Yesterday another hotel group, consisting of probably best known of the group Fairmont, along with Raffles and Swissôtel are to be swallowed up by AccorHotels. In a press release announcement, Accor announced, “A strategic deal to create a worldwide leader in the luxury segment.”
Accor Hotels To Buy Fairmont
FRHI includes three of the most prestigious global luxury hotel brands: Raffles, Fairmont and Swissôtel. It has 155 hotels and resorts (of which 40 are under development), and more than 56,000 rooms (of which approximately 13,000 are under development). Its portfolio includes such legendary properties as Raffles Singapore, The Savoy in London, Shanghai’s Fairmont Peace Hotel, The Plaza Hotel in New York, Le Royal Monceau – Raffles Paris, Fairmont San Francisco, Fairmont Banff Springs (Canada), Fairmont Le Château Frontenac in Quebec, the Fairmont Grand Del Mar in San Diego, and Swissôtel The Stamford in Singapore. FRHI has more than 45,000 employees under its brands.
Looks like consolidation in the hotel space will continue. This news comes on the heels of the Marriott – Starwood merger. I don’t have any experience with Accor but, it seems that they are acquiring some nice properties for their portfolio. Time will tell how these loyalty programs will shake out after the mergers.