Support Skift’s Independent Journalism

More travel professionals get their industry news from Skift’s trusted editors and reporters than any other source.

AccorHotels, Europe’s largest hotel operator, received antitrust clearance approvals in all relevant jurisdictions today, allowing it to proceed with its $2.9 billion acquisition of FRHI Holdings, the parent company of the Fairmont, Swissotel, and Raffles hotel brands.

Within the next few weeks, AccorHotels will hold a shareholders meeting to approve a reserved capital increase, as well as Board appointments from the Qatar Investment Authority and Kingdom Holding. Following shareholder approval, the FRHI deal is expected to close by mid-year.

AccorHotels has been on a bit of a buying spree as of late, investing in a variety of vacation rental companies and purchasing London’s Onefinestay for $168 million.

The Paris-based company generated revenue of approximately $1.32 million for the first quarter of 2016, an increase of 1.9 percent like for like, but down 5.2 percent compared to the first quarter of 2015.


Photo Credit: The Claremont Fairmont in Berkeley, California. Fairmont Hotels & Resorts