This week, AccorHotels, a global travel and lifestyle group and digital innovator that offers unique experiences in more than 4,000 properties, has officially acquired FRHI Hotels & Resorts (FRHI) and its three luxury hotel brands, Fairmont, Raffles, and Swissôtel. This acquisition was announced following the approval of shareholders at the general shareholders meeting and instantly positions AccorHotels as a leading player in the global luxury hotel market. “Today is a great day for our group,” says Sébastien Bazin, CEO and chairman for AccorHotels. “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.”
Joining AccorHotels’ global network is a portfolio of globally admired brands, which comprises iconic and historic hotels, including The Savoy in London, Raffles Singapore, Fairmont San Francisco, The Plaza in New York City, Fairmont Le Château Frontenac in Quebec City, and Le Royal Monceau Raffles Paris. Combining its strong global operating platform, extensive loyalty base, and industry leading digital capabilities with FRHI’s proven track record and deep expertise in operating and marketing luxury hotels, AccorHotels is positioned to deliver long-term growth potential and profitable returns across all market segments. Says Bazin, “We remain committed to providing guests with unparalleled service, while also keeping the ambition to deliver exceptional return on investment for our shareholders and hotel owners. By leveraging the operational synergies between FRHI and AccorHotels, we are well-positioned to accelerate the growth of our luxury brands and offer guests even more exciting hotel choices and destinations to explore.”