AccorHotels Group Announce Acquisition Of FRHI Hotels & Resorts (FRHI) And Its Luxury Hotel Brands: Fairmont, Raffles And Swissôtel.
Joining AccorHotels’ global network is a portfolio of globally admired brands, which includes management of many of the world’s most iconic and historic hotels located in key strategic cities around the world, including: The Savoy in London, Raffles Singapore, Fairmont San Francisco, New York’s The Plaza, Fairmont Le Château Frontenac in Quebec City, and Le Royal Monceau Raffles Paris.
The addition of the three hotel brands will position AccorHotels as a leading player in the global luxury hotel market.
“The acquisition of these three emblematic luxury hotel brands is a historical milestone for AccorHotels. It will open up amazing growth prospects, lift our international presence to unprecedented heights, and build value over the long term,”
Sébastien Bazin, Chairman and Chief Executive Officer of AccorHotels
AccorHotels plans to generate approximately €65 million in revenue and cost synergies thanks to the combination of brands, the maximization of hotel earnings, the increased efficiency of marketing, sales and distribution channel initiatives, and the optimisation of support costs.