Logo - Raffles etc

Just a couple of weeks after Marriott bought Starwood Hotels & Resorts, Accor has acquired FRHI Hotels & Resorts, which owns the Fairmont, Raffles and Swissotel hotel chains, for USD2.9bn in cash and shares.

For that Accor – Europe”s largest accommodation group – will get 115 luxury hotels and resorts plus another 40 under development.

It cements its position as a luxury market leader with 500 properties in this lucrative segment. See Financial Times story.

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