AccorHotels has closed its US$840m acquisition of FRHI Hotels & Resorts (FRHI) and its three luxury brands – Fairmont, Raffles and Swissôtel – and appointed Chris Cahill to the newly created role of CEO Luxury Brands.
Company Chairman and CEO Sébastien Bazin didn’t spare the hyperbole, declaring, “Today is a great day for our Group.
“The acquisition of these three emblematic luxury hotel brands is a historical milestone for AccorHotels. It will open up amazing growth prospects, lift our international presence to unprecedented heights, and build value over the long term.”
Some of the world’s most famous hotels are part of the deal, including The Savoy in London, Raffles Singapore, Fairmont San
Francisco, New York’s The Plaza, Fairmont Le Château Frontenac in Quebec City, and Le Royal Monceau Raffles Paris.
Leading the integration of FRHI into AccorHotels is Chris Cahill, also be responsible for the strategy and global operations of AccorHotels Luxury Brands.
This new structure will include Raffles, Fairmont, Sofitel Legend, So Sofitel, Sofitel, MGallery by Sofitel, Pullman and Swissôtel.
Cahill most recently served as Executive Vice President Global Operations at Las Vegas Sands Corp.
Most of the 154-strong Fairmont, Raffles and Swissôtel portfolio (including 40 under development) are operated under long-term management contracts. Six are leased and one is owned.