ACCORHOTELS FINALISES ITS PURCHASE OF FRHI HOLDINGS

AccorHotels has been given permission by its shareholders to finalise the French group’s acquisition of FRHI Holdings Ltd, the parent company of the luxury Fairmont, Raffles and Swissôtel brands. The FRHI portfolio includes 155 hotels and resorts in operation or under development in 34 countries, and AccorHotels paid for its purchase with a cash payment of €768 million and the issueing of 46.7 million new Accor shares. The deal, which was signed at the end of last year, will result in the Qatar Investment Authority (QIA) and Saudi Arabian Kingdom Holding Company (KHC) becoming major shareholders in AccorHotels with representatives on the group's board of directors.

Back