Hotel group consolidation grows
December 22, 2015
Following Marriott’s purchase of Starwood last month, the hotel world is witnessing another major consolidation with Accor Hotels taking over the luxury Fairmont, Raffles and Swissotel brands as a result of their acquisition of FRHI Holdings.
AccorHotels purchase gives them access to a global collection of 155 hotels and resorts, of which 40 are under development, including hotels such as Raffles Singapore, the Savoy in London, Shanghai’s Fairmont Peace Hotel, the Plaza Hotel in New York and Swissotel in Sydney. For AccorHotels, the new portfolio gives the group greater presence in North America, and in the luxury sector.