{"id":21610,"date":"2016-08-02T11:22:02","date_gmt":"2016-08-02T08:22:02","guid":{"rendered":"http:\/\/money-tourism.gr\/en\/?p=21610"},"modified":"2016-08-02T16:23:43","modified_gmt":"2016-08-02T13:23:43","slug":"accorhotels-adds-global-luxury-brands-landmark-acquisition-fairmont-raffles-swissotel","status":"publish","type":"post","link":"https:\/\/money-tourism.gr\/en\/accorhotels-adds-global-luxury-brands-landmark-acquisition-fairmont-raffles-swissotel\/","title":{"rendered":"AccorHotels adds global luxury brands with landmark acquisition of Fairmont, Raffles and Swiss\u00f4tel"},"content":{"rendered":"<p><strong>Following the approval of shareholders at the General Shareholders Meeting on July 12, 2016, AccorHotels Group officially announces the acquisition of FRHI Hotels &amp; Resorts (FRHI) and its three prestigious luxury hotel brands: Fairmont, Raffles and Swiss\u00f4tel.<\/strong><br \/>\nThis addition of three remarkable brands instantly positions AccorHotels as a leading player in the global luxury hotel market, increases long term growth potential and profitability, and significantly expands the company\u2019s footprint in North America, the world\u2019s largest and most influential consumer market.<\/p><div class=\"money-content_2\" id=\"money-3736439155\"><ul id=\"money-grid-35365\"><li><a data-no-instant=\"1\" href=\"https:\/\/eshop.ksdamenities.gr\/\" rel=\"noopener\" class=\"adv-link\" aria-label=\"banner_FERRAGAMO_336x280-01\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/money-tourism.gr\/wp-content\/uploads\/2021\/12\/banner_FERRAGAMO_336x280-01.jpg\" alt=\"\"  width=\"336\" height=\"280\"  style=\"opacity: 1 !important;\" \/><\/a><\/li><li class=\"last\"><div style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"money-3101075260\"><a data-no-instant=\"1\" href=\"https:\/\/www.365jobs.gr\/global-mobility?localization=en&#038;utm_source=MoneyTourismEN&#038;utm_medium=Banner&#038;utm_campaign=GlobalMobility\" rel=\"noopener\" class=\"adv-link\" aria-label=\"336x280_EN\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/money-tourism.gr\/wp-content\/uploads\/2025\/06\/336x280_EN.jpg\" alt=\"\"  width=\"336\" height=\"280\"  style=\"display: inline-block;opacity: 1 !important;\" \/><\/a><\/div><\/li><\/ul><style>#money-grid-35365{list-style:none;margin:0;padding:0;overflow:hidden;}#money-grid-35365>li{float:left;width:49%;min-width:250px;list-style:none;margin:0 1% 1% 0;;padding:0;overflow:hidden;}#money-grid-35365>li.last{margin-right:0;}#money-grid-35365>li.last+li{clear:both;}@media only screen and (max-width:768px) {#money-grid-35365>li{width:100%;}}<\/style><\/div>\n<p>\u201cToday is a great day for our Group. The acquisition of these three emblematic luxury hotel brands is a historical milestone for AccorHotels. It will open up amazing growth prospects, lift our international presence to unprecedented heights, and build value over the long term,\u201d says S\u00e9bastien Bazin, Chairman and Chief Executive Officer of AccorHotels.<\/p><div class=\"money-content\" style=\"float: left;\" id=\"money-3571745960\"><div style=\"margin-left: -15px;float: left;clear: both;\" class=\"keno2\" id=\"money-3332873368\"><a data-no-instant=\"1\" href=\"https:\/\/youtu.be\/gW9fha7nygg?si=T5QNj6JmBtQagVnQ\" rel=\"noopener\" class=\"adv-link\"><div class=\"ad-desktop\">\r\n\t<ins class='dcmads' style='display:inline-block;width:970px;height:250px'\r\n    data-dcm-placement='N7033.2404308MONEY-TOURISM\/B34828307.445601741'\r\n    data-dcm-rendering-mode='iframe'\r\n    data-dcm-https-only\r\n    data-dcm-api-frameworks='[APIFRAMEWORKS]'\r\n    data-dcm-omid-partner='[OMIDPARTNER]'\r\n    data-dcm-gdpr-applies='gdpr=${GDPR}'\r\n    data-dcm-gdpr-consent='gdpr_consent=${GDPR_CONSENT_755}'\r\n    data-dcm-addtl-consent='addtl_consent=${ADDTL_CONSENT}'\r\n    data-dcm-ltd='false'\r\n    data-dcm-resettable-device-id=''\r\n    data-dcm-app-id=''>\r\n  <script src='https:\/\/www.googletagservices.com\/dcm\/dcmads.js'><\/script>\r\n<\/ins>\r\n<\/div><div class=\"ad-mobile\">\r\n\t<ins class='dcmads' style='display:inline-block;width:300px;height:250px'\r\n    data-dcm-placement='N7033.2404308MONEY-TOURISM\/B34828307.445732604'\r\n    data-dcm-rendering-mode='iframe'\r\n    data-dcm-https-only\r\n    data-dcm-api-frameworks='[APIFRAMEWORKS]'\r\n    data-dcm-omid-partner='[OMIDPARTNER]'\r\n    data-dcm-gdpr-applies='gdpr=${GDPR}'\r\n    data-dcm-gdpr-consent='gdpr_consent=${GDPR_CONSENT_755}'\r\n    data-dcm-addtl-consent='addtl_consent=${ADDTL_CONSENT}'\r\n    data-dcm-ltd='false'\r\n    data-dcm-resettable-device-id=''\r\n    data-dcm-app-id=''>\r\n  <script src='https:\/\/www.googletagservices.com\/dcm\/dcmads.js'><\/script>\r\n<\/ins>\r\n<\/div><\/a><\/div><br style=\"clear: both; display: block; float: none;\"\/><\/div>\n<p>Joining AccorHotels\u2019 global network is a portfolio of globally admired brands, which includes management of many of the world\u2019s 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\u2019s The Plaza, Fairmont Le Ch\u00e2teau Frontenac in Quebec City, and Le Royal Monceau Raffles Paris.<\/p>\n<p>Combining FRHI\u2019s proven track record and deep expertise in operating and marketing luxury hotels, with AccorHotels robust global operating platform, extensive loyalty base and industry leading digital capabilities, means the Group is uniquely positioned to deliver the most profitable returns and best growth potential across all market segments.<\/p>\n<p>\u201cWe remain committed to providing guests with unparalleled service, while also keeping the ambition to deliver exceptional return on investment for our shareholders and hotel owners,\u201d added Bazin. \u201cBy leveraging the operational synergies between FRHI and AccorHotels, we are well-positioned to accelerate the growth of our luxury brands and offer guests even more exciting hotel choices and destinations to explore.\u201d<\/p>\n<h6><strong>Chris Cahill appointed as the Group\u2019s CEO Luxury Brands <\/strong><\/h6>\n<p>In support of the acquisition, and as part of AccorHotels\u2019 larger strategy to strengthen its luxury and upscale business, the company has appointed Chris Cahill as the Group\u2019s Chief Executive Officer, Luxury Brands. In this newly created role, Chris, who will also become a member of AccorHotels\u2019 Executive Committee, will lead the FRHI integration process and be responsible for the strategy and global operations of AccorHotels Luxury Brands. This new structure will include Raffles, Fairmont, Sofitel Legend, So Sofitel, Sofitel, MGallery by Sofitel, Pullman and Swiss\u00f4tel.<\/p>\n<p>Chris is an experienced hotelier who has led several successful integrations, is familiar with multi-brand management and brings an extensive background in luxury operations, sales and marketing. With more than 30 years of hospitality industry experience, including 19 years working with FRHI and its predecessor companies, Chris is ideally positioned to lead the integration of the Fairmont, Raffles and Swiss\u00f4tel brands into the AccorHotels portfolio, and will ensure AccorHotels\u2019 luxury brands grow and prosper. He most recently served as Executive Vice President Global Operations at Las Vegas Sands Corp.<\/p>\n<h6><strong>Closing Details <\/strong><\/h6>\n<p>Following the approval of shareholders at the General Shareholders Meeting on July 12, 2016, the transaction with Qatar Investment Authority (QIA) and Kingdom Holding Company (KHC) of Saudi Arabia provided $840 million (\u20ac768 million) cash payment and the issuance of 46.7 million AccorHotels shares in consideration for the contributed FRHI shares. The transaction gives QIA and KHC respective stakes of 10.4% and 5.8% in Accor\u2019s share capital. Ali Bouzarif and Aziz Aluthman Fakhroo from QIA and Sarmad Zok from KHC will now join AccorHotels\u2019 Board of Directors.<\/p>\n<p>AccorHotels plans to generate approximately \u20ac65 million in revenue and cost synergies thanks to the combination of brands, the maximization of hotel earnings, the increased efficiency of marketing, sales and distribution channel initiatives, and the optimization of support costs. Significant enhancements will also be made in terms of customer data, thanks to the integration of FRHI\u2019s customer base that includes three million loyalty members, of which 75 percent are in North America.<\/p>\n<p>The vast majority of Fairmont, Raffles and Swiss\u00f4tel\u2019s 154 hotels and resorts (of which 40 are under development) and 56,000 rooms spanning 34 countries and five continents are operated under long-term management contracts, with an average term of nearly 30 years; six hotels are leased and one hotel is owned. The Fairmont, Raffles and Swiss\u00f4tel brands employ more than 45,000 colleagues worldwide.<\/p>\n<div class=\"money-after-article-content\" id=\"money-197086863\"><ul id=\"money-grid-34887\"><li><div style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"money-738656773\"><a data-no-instant=\"1\" href=\"https:\/\/emea01.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fwww.mexil.gr%2F&#038;data=05%7C02%7C%7C66d206b952794129f12c08de6a272af3%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C639064913611208166%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&#038;sdata=oKLQ1xS%2Fhu9cnq9EqSAl8zN7ks2xH8EpgFSlt8s0JB8%3D&#038;reserved=0\" rel=\"noopener\" class=\"adv-link\" aria-label=\"MONEYTOURISM-02\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/money-tourism.gr\/wp-content\/uploads\/2025\/05\/MONEYTOURISM-02-1.gif\" alt=\"\"  width=\"336\" height=\"280\"  style=\"display: inline-block;opacity: 1 !important;\" \/><\/a><\/div><\/li><li class=\"last\"><div style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"money-2689358461\"><a data-no-instant=\"1\" href=\"https:\/\/www.365jobs.gr\/global-mobility?localization=en&#038;utm_source=MoneyTourismEN&#038;utm_medium=Banner&#038;utm_campaign=GlobalMobility\" rel=\"noopener\" class=\"adv-link\" aria-label=\"336x280_EN\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/money-tourism.gr\/wp-content\/uploads\/2025\/06\/336x280_EN.jpg\" alt=\"\"  width=\"336\" height=\"280\"  style=\"display: inline-block;opacity: 1 !important;\" \/><\/a><\/div><\/li><\/ul><style>#money-grid-34887{list-style:none;margin:0;padding:0;overflow:hidden;}#money-grid-34887>li{float:left;width:49%;min-width:250px;list-style:none;margin:0 1% 1% 0;;padding:0;overflow:hidden;}#money-grid-34887>li.last{margin-right:0;}#money-grid-34887>li.last+li{clear:both;}@media only screen and (max-width:768px) {#money-grid-34887>li{width:100%;}}<\/style><\/div>","protected":false},"excerpt":{"rendered":"<p>Following the approval of shareholders at the General Shareholders Meeting on July 12, 2016, AccorHotels Group officially announces the acquisition of FRHI Hotels &amp; Resorts (FRHI) and its three prestigious luxury hotel brands: Fairmont, Raffles and Swiss\u00f4tel. This addition of three remarkable brands instantly positions AccorHotels as a leading player in the global luxury hotel [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":21577,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[63,42],"tags":[4447],"class_list":["post-21610","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-hotels","tag-accorhotels"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AccorHotels adds global luxury brands with landmark acquisition of Fairmont, Raffles and Swiss\u00f4tel - \u03a7\u03a1\u0397\u039c\u0391 &amp; \u03a4\u039f\u03a5\u03a1\u0399\u03a3\u039c\u039f\u03a3 money-tourism.gr<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/money-tourism.gr\/en\/accorhotels-adds-global-luxury-brands-landmark-acquisition-fairmont-raffles-swissotel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AccorHotels adds global luxury brands with landmark acquisition of Fairmont, Raffles and Swiss\u00f4tel - \u03a7\u03a1\u0397\u039c\u0391 &amp; \u03a4\u039f\u03a5\u03a1\u0399\u03a3\u039c\u039f\u03a3 money-tourism.gr\" \/>\n<meta property=\"og:description\" content=\"Following the approval of shareholders at the General Shareholders Meeting on July 12, 2016, AccorHotels Group officially announces the acquisition of FRHI Hotels &amp; Resorts (FRHI) and its three prestigious luxury hotel brands: Fairmont, Raffles and Swiss\u00f4tel. 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