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Accorhotels Acquires Three More Brands

FOLLOWING THE DECISION TAKEN AT THE GENERAL SHAREHOLDERS MEETING ON JULY 12, ACCORHOTELS ANNOUNCED THE ACQUISITION OF FRHI HOTELS & RESORTS AND ITS THREE LUXURY HOTEL BRANDS;

FAIRMONT, RAFFLES AND SWISSÔTEL.

The addition instantly positions AccorHotels as a leading player in the global luxury hotel market, increases longterm growth potential and profitability, and significantly expands the company's footprint in North America.

With this acquisition, AccorHotels will have 150 hotels in operation and under management in the Middle East region, presenting more than 45,000 rooms across the luxury to economy segments. Commenting on the deal, SĂ©bastien Bazin, CEO, AccorHotels said "It will open up amazing growth prospects, lift our international presence to unprecedented heights, and build value over the long term."