Accor Buys Fairmont, Raffles and Swissotel Brands for $2.9 Billion
Skift Take
AccorHotels is one of the smarter travel brands right now. Its larger rivals should take note.
AccorHotels today confirmed months of rumors that it would acquire FRHI Holdings Ltd, the parent company of the Fairmont, Raffles, and Swissotel hotel brands.
Accor is purchasing the hotels from its ownership group, which includes the Qatar Investment Authority, Kingdom Holding Company of Saudi Arabia, and an Ontario Municipal Employees Retirement System company. Accor is paying $840 million in cash and 4
