frhi
It’s Official: AccorHotels Shareholders Approve Acquisition of Fairmont, Raffles and Swissôtel Brands
AccorHotels | July 12, 2016
Following the approval of shareholders at the General Shareholders Meeting on July 12, 2016, AccorHotels Group officially announces the acquisition of FRHI Hotels & Resorts (FRHI) and its three prestigious luxury hotel brands: Fairmont, Raffles and Swissôtel. This addition of three remarkable brands instantly positions AccorHotels as a leading player in the global luxury hotel market, increases long term growth potential and profitability, and significantly expands the company's footprint in North America, the world's largest and most influential consumer market. "Today is a great day for our Group. The acquisitio...
Fitch: Accor Deal Mild Positive, More Hotel Consolidation Likely
Fitch Ratings | December 11, 2015
Fitch Ratings-London-11 December 2015: AccorHotels' acquisition of FRHI Holdings will improve the group's business profile by increasing its international diversification and will not affect its key financial metrics, Fitch Ratings says. The deal reinforces our expectation for further hospitality and travel industry consolidation as competition is rapidly increasing. The three brands AccorHotels is acquiring, Raffles, Fairmont, Swissotel, have hotels in 34 countries, but their biggest presence is in North America, which currently represents just 1% of Accor's hotel portfolio. It will only make up a small proportion of the gr...
AccorHotels to Acquire Three Iconic Hotel Brands – Fairmont, Raffles, Swissôtel
AccorHotels | December 9, 2015
An unrivalled collection of iconic hotel assets with 155 hotels and resorts, of which 40 are under development Acquisition to provide AccorHotels with robust and global leadership in luxury hotels, a key segment in terms of geographic reach, growth potential and profitability, for long-term value creation FRHI's unrivalled hotel portfolio, expertise in marketing luxury hotels and sizeable footprint in North America, provide a stronger platform to continue aggressive worldwide expansion. AccorHotels will pay for the acquisition by issuing 46.7 million new Accor shares and a cash payment of $840 million (€768 million) – Qa...
Development Launched for the 350-room Fairmont Wuhan Slated to Open in China in 2017
Fairmont Hotels & Resorts | January 20, 2015
SINGAPORE, SINGAPORE - January 20, 2015 - Fairmont Hotels & Resorts, a luxury brand in the FRHI Hotels & Resorts (FRHI) portfolio, Oceanwide Hotel Investment Management Co., Ltd. and Wuhan Central Business Area Construction Investment Joint Stock Company, today announced the development of a new hotel in Wuhan, the capital of Hubei Province, Central China. Joining the brand's growing collection of properties in China, Fairmont Wuhan is slated to open in 2017. Fairmont Wuhan will feature 350 guestrooms, four distinctive dining outlets and approximately 2,500 square meters (26,910 square feet) of event and banquet space. The world...
