The prestigious Raffles, Fairmont and Swissotel brands are now officially part of AccorHotels Group.
The acquisition of FRHI Hotels & Resorts, which was mooted early in 2016, boosts AccorHotels standing as a leading player in the global luxury accommodation market.
Newcomers to the management portfolio include the iconic Savoy in London; Raffles Singapore; Fairmont San Francisco; The Plaza New York City; Fairmont Le Chateau Frontenac in Quebec; and Le Royal Monceau Raffles Paris.
AccorHotels said the move “increased long term growth potential and profitability” and “significantly expanded” the company’s footprint in North America, the world’s biggest and most influential consumer market.
Chairman and Chief Executive Officer, Sebastien Bazin, said the move lifted the AccorHotels international presence to unprecedented heights.
“We 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.
“By 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.”
Between them, Fairmont, Raffles and Swissôtel’s has 154 hotels and resorts (of which 40 are under development) across 34 countries and five continents.
They employ more than 45,000 people.