AccorHotels Group announced the completion of the planned acquisition of FRHI Hotels & Resorts and its three luxury hotel brands—Fairmont, Raffles and Swissôtel.
"The acquisition of these three emblematic luxury hotel brands is a historical milestone for AccorHotels," said Sébastien Bazin, chairman and CEO AccorHotels. "It will open up amazing growth prospects, lift our international presence to unprecedented heights, and build value over the long term."
Joining AccorHotels' portfolio of brands, which includes management of many of the world's historic hotels located in key strategic cities, including: The Savoy in London, RafflesSingapore, Fairmont San Francisco, New York's The Plaza, Fairmont Le Château Frontenac in Quebec City and Le Royal Monceau Raffles Paris.
"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," Bazin said. "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."
