Following shareholder approval given earlier this month, AccorHotels Group officially announced the acquisition of FRHI Hotels & Resorts (FRHI) and its three luxury hotel brands: Fairmont, Raffles and Swissôtel. This acquisition positions AccorHotels as a global hospitality leader and a key player in the luxury hotel market. The acquisition comes months after Marriott, another global hospitality player, agreed to be acquired by Starwood Hotels & Resorts.
Speaking on the acquisition, Sébastien Bazin, Chairman and Chief Executive Officer of AccorHotels explained that it would lift the hotel group’s international presence to unprecedented heights, and build value over the long term.
Joining AccorHotels’ global network is a portfolio of globally admired brands, which includes management of many of the world’s most iconic and historic hotels located in key strategic cities around the world, including: The Savoy in London, Raffles Singapore, Fairmont San Francisco, New York’s The Plaza, Fairmont Le Château Frontenac in Quebec City, and Le Royal Monceau Raffles Paris.
The Savoy, A Fairmont Managed Hotel â London, United Kingdom. Image source: accorhotels-group.com.
AccorHotels operates in more than 95 countries, and together with Fairmont and its sister brands Raffles and Swissôtel, will grow to more than 4,000 recognized luxury, midscale and economy hotels and resorts, including Sofitel, Pullman, MGallery, and Novotel.
AccorHotels has had a presence in Nigeria through the longstanding Moorhouse Hotel in Ikoyi, Lagos as well as an Ibis in Ikeja and another close to the Murtala Mohamed International Airport. Last year, FRHI Holdings announced a 270-room Fairmont Abuja which will be developed by Asset Management Group (AMG), and is expected to open in 2019. This follows the 220-room Fairmont Lagos, also an AMG project that was announced in 2014.