{"id":1004133485,"date":"2015-12-11T06:59:26","date_gmt":"2015-12-11T14:59:26","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004133485"},"modified":"2021-05-14T20:15:25","modified_gmt":"2021-05-15T04:15:25","slug":"european-group-acquires-three-hotel-brands-for-2-9b","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/","title":{"rendered":"European Group Acquires Three Hotel Brands for $2.9B"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/p>\n

\"Savoy\"<\/a>

Savoy Hotel<\/p><\/div>\n

AccorHotels<\/a> has acquired three iconic hotel brands\u2014Fairmont, Raffles and Swiss\u00f4tel\u2014in a cash-and-share deal valued at a reported $2.9 billion, from FRHI Holdings Ltd.<\/p>\n

AccorHotels will issue 46.7 million new Accor shares and pay a cash payment of $840 million to complete the purchase. As part of the deal, Qatar Investment Authority and Kingdom Holding Company of Saudi Arabia will become major shareholders, with 10.5 percent and 5.8 percent of the share capital, respectively.<\/p>\n

The acquisition included 155 hotels and resorts in 34 countries, with 40 of the properties currently under development. Included in the portfolio are noteworthy properties such as Raffles Singapore, The Savoy in London, Shanghai\u2019s Fairmont Peace Hotel, The Plaza Hotel in New York, Fairmont San Francisco, Fairmont Banff Springs (Canada), Fairmont Le Ch\u00e2teau Frontenac in Quebec, the Fairmont Grand Del Mar in San Diego and Swiss\u00f4tel The Stamford in Singapore.<\/p>\n

According to a company release, the integration of Raffles, Fairmont and Swiss\u00f4tel will broaden AccorHotels\u2019 geographic footprint in the luxury segment, and enable it to optimize its luxury and upscale brands in order to adapt its offering to the expectations of an increasingly demanding clientele.<\/p>\n

\u201cThis is an outstanding opportunity to add three prestigious brands to our portfolio, and a great step forward for AccorHotels,\u201d S\u00e9bastien Bazin, AccorHotels\u2019 chairman & CEO, said in the release. \u201cIt offers us robust and global leadership in luxury hotels, a key segment in terms of geographic reach, growth potential and profitability, for long-term value creation.\u201d<\/p>\n

\"Raffles,<\/a>

Raffles, Dubai<\/p><\/div>\n

In addition, the deal allows the company to strengthen its human capital with FRHI\u2019s widely respected and talented global workforce, which has a proven track record in operating and marketing luxury hotels.<\/p>\n

The transaction will also enable the Group to consolidate its shareholder base, with the arrival of two high-profile investors that both have extensive expertise in the hospitality industry.<\/p>\n

\u201cThis major acquisition demonstrates the Group\u2019s agility in a fast-changing industry and will allow us to more effectively support our guests, clients and hotel owners,\u201d Bazin said. \u201cThrough it, we are positioning ourselves as a key player in the current industry consolidation process while maintaining substantial leeway to implement our transformation plan.\u201d<\/p>\n

The acquisition ups the company\u2019s portfolio to over 500 luxury and upscale properties, and positions it as a key global player in this segment. FRHI teams are expected to bolster AccorHotels\u2019 expertise in the luxury segment and provide the Group with new ambitions, through targeted, value-creative expansion.<\/p>\n","protected":false},"excerpt":{"rendered":"

AccorHotels has acquired the Fairmont, Raffles and Swiss\u00f4tel brands in a cash-and-share deal.<\/p>\n","protected":false},"author":451,"featured_media":1004133492,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21781,21808,21751,16,21742],"tags":[],"class_list":["post-1004133485","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-real-estate","category-featured","category-hotel","category-international","category-latest"],"acf":[],"yoast_head":"\nEuropean Group Acquires Three Hotel Brands for $2.9B - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"European Group Acquires Three Hotel Brands for $2.9B\" \/>\n<meta property=\"og:description\" content=\"AccorHotels has acquired the Fairmont, Raffles and Swiss\u00f4tel brands in a cash-and-share deal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-12-11T14:59:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T04:15:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Savoy.png\" \/>\n\t<meta property=\"og:image:width\" content=\"996\" \/>\n\t<meta property=\"og:image:height\" content=\"733\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/\",\"name\":\"European Group Acquires Three Hotel Brands for $2.9B - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Savoy.png\",\"datePublished\":\"2015-12-11T14:59:26+00:00\",\"dateModified\":\"2021-05-15T04:15:25+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Savoy.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Savoy.png\",\"width\":996,\"height\":733},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"European Group Acquires Three Hotel Brands for $2.9B\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f\",\"name\":\"Keith Loria\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g\",\"caption\":\"Keith Loria\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/keith-loria\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"European Group Acquires Three Hotel Brands for $2.9B - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/","og_locale":"en_US","og_type":"article","og_title":"European Group Acquires Three Hotel Brands for $2.9B","og_description":"AccorHotels has acquired the Fairmont, Raffles and Swiss\u00f4tel brands in a cash-and-share deal.","og_url":"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2015-12-11T14:59:26+00:00","article_modified_time":"2021-05-15T04:15:25+00:00","og_image":[{"width":996,"height":733,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Savoy.png","type":"image\/png"}],"author":"Keith Loria","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/","url":"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/","name":"European Group Acquires Three Hotel Brands for $2.9B - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Savoy.png","datePublished":"2015-12-11T14:59:26+00:00","dateModified":"2021-05-15T04:15:25+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Savoy.png","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Savoy.png","width":996,"height":733},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/european-group-acquires-three-hotel-brands-for-2-9b\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"European Group Acquires Three Hotel Brands for $2.9B"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f","name":"Keith Loria","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g","caption":"Keith Loria"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/keith-loria\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/Savoy.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004133485","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/451"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004133485"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004133485\/revisions"}],"predecessor-version":[{"id":1004531510,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004133485\/revisions\/1004531510"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004133492"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004133485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004133485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004133485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}