On July 12, the General Shareholders’ Meeting of AccorHotels approved the acquisition of FRHI Hotels & Resorts and its prestigious hotel brands Fairmont, Raffles, and Swissotel.
The transaction with Qatar Investment Authority, QIA, and Kingdom Holding Company, KHC, included a cash payment of USD 840 million and the issuance of 46.7 million AccorHotels shares in exchange for FRHI shares. The transaction gives QIA and KHC a stake of 10.4% and 5.8%, respectively, in AccorHotels’ share capital.
FRHI Hotels & Resorts comprises 154 hotel units, 40 of which are under development, totaling 56,000 rooms in 34 countries across five continents. Most hotels are operated under long-term management contracts with an average duration of 30 years; six hotels are leased, and one is owned by the company.
Source: Profit
Frequently Asked Questions
Which brands did AccorHotels acquire through the FRHI deal?
AccorHotels acquired the prestigious luxury brands Fairmont, Raffles, and Swissotel.
What were the financial terms of the AccorHotels-FRHI acquisition?
The deal included a $840 million cash payment and the issuance of 46.7 million AccorHotels shares.
How many rooms does the FRHI portfolio add to AccorHotels?
The acquisition adds 154 hotel units with a total of 56,000 rooms across 34 countries.