14 DECEMBER 2015
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London’s Savoy, New York’s Plaza and other famous names in the hospitality world changed hands last week when French group AccorHotels announced its acquisition of FRHI Holdings, the parent company of the Fairmont, Raffles and Swissôtel brands.
In all, the FRHI portfolio covers 155 hotels and resorts, of which 40 are under development, and more than 56,000 rooms, of which about 13,000 are under development.
As well as the Savoy and the New York Plaza, the list includes other legendary properties like Raffles Singapore, Shanghai’s Fairmont Peace Hotel and Le Royal Monceau – Raffles Paris.
Elsewhere are the 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 was owned by the Qatar Investment Authority (QIA), Kingdom Holding Company (KHC) of Saudi Arabia and Oxford Properties of Ontario.
Accor praised FRHI’s “unrivalled hotel portfolio, expertise in marketing luxury hotels and sizeable footprint in North America”, which it said would provide a stronger platform for Accor “to continue aggressive worldwide expansion”. www.accorhotels-group.com
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