ACCOR Takes On Fairmont Raffles
Category:
Hotels, Posted:10 Dec 2015 | 13:01 pm
French hospitality chain ACCOR has entered into an agreement to acquire the Fairmont Raffles (FRHI) for a reported US$2.9 billion.
With 115 hotels and over 43,000 rooms the FRHI deal includes the Swissotel brand together with the two mainstays.
The transaction is comprised of a cash and stock in ACCOR.
According to Hotels Magazine online FRHI has another 13,000 rooms with 40 hotels currently in its pipeline.
This is the second major convergence of leading global brands in the latter part of this year with the Marriott Starwood deal capturing headlines recently.
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Category: Hotels|Real estate|Tourism, Posted:19 Nov 2024 | 09:27 am A new 180-room branded property, the EQ Phuket has been announced for Kata Beach. The property, which is located next to Club Med, was developed by a joint venture between Thailand’s Onyx Hospitality and Malaysia’s Equatorial Group. Investment into the project is THB2.5 billion (approximately USD72 million). Equatorial Group, a legacy Asian hotel group, has […]Read more
