AccorHotels Announces Acquisition of FRHI Hotels & Resorts (Fairmont, Raffles and Swissotel)
- Filed under News
- Posted on Friday, 22 July 2016 11:50
- By Zac Erawan
Accor Hotels announced last week an acquisition which will become a milestone in the growth of the luxurious hotel business, which is about acquisition of three prestigious hotel brands Fairmont, Raffles and Swissôtel which has over 154 hotels and resorts in 34 countries. This will increase the long term growth potential and profitability of AccorHotels group. They own the most prestigious and historic hotels in London, Singapore and New York.
Acquisition proposal was approved in the general meeting and it was agreed that Chris Cahill the Chief executive officer of AccorHotel group will be in charge for the new hotels and he has 30 years of experience in hospitality industry. Qatar investment authority and kingdom holding company of Saudi provided 768 million cash payment and 46.7 million AccorHotel shares. The monthly expected annual revenue from the new hotels is expected to be 65 million.
Read the full article here:
AccorHotels Announces Acquisition of FRHI Hotels & Resorts (Fairmont, Raffles and Swissotel)
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Zac Erawan
Owner at NewThaiHotels
Hotel Otaku. Hotel reviewer. Aspiring photographer. Xenodocheionologist.
Zac fuses his lifelong passions for 1. Beautiful Hotels & Resorts, 2. Thailand and 3. Website Design to bring NewThaiHotels to life, sharing the latest information on new and exciting luxury hotel openings in stunning tropical Thailand.
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