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AccorHotels Buys Fairmont, Raffles, Swissotel

PARIS — Following the approval of shareholders at the general shareholders meeting on July 12, AccorHotels Group has officially announced the acquisition of FRHI Hotels & Resorts (FRHI) and its Fairmont, Raffles and Swissôtel hotel brands.

Fairmont Chicago, Millennium Park -- Associated Luxury Hotels

Fairmont Chicago Millennium Park.

“The acquisition of these three emblematic luxury hotel brands…will open up amazing growth prospects, lift our international presence to unprecedented heights, and build value over the long term,” said Sébastien Bazin, chairman and CEO of AccorHotels.

Joining AccorHotels’ global network is a portfolio of brands that include such historic properties as 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.

“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,” added Bazin.

In support of the acquisition, and as part of AccorHotels’ larger strategy to strengthen its luxury and upscale business, the company has appointed Chris Cahill as the group’s chief executive officer, luxury brands. In this newly created role, Cahill, who will also become a member of AccorHotels’ executive committee, will lead the FRHI integration process and 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 is an experienced hotelier who has led several successful integrations, is familiar with multi-brand management and brings an extensive background in luxury operations, sales and marketing. With more than 30 years of hospitality industry experience, including 19 years working with FRHI and its predecessor companies, Cahill is ideally positioned to lead the integration of the Fairmont, Raffles and Swissôtel brands into the AccorHotels portfolio. He most recently served as executive vice-president global operations at Las Vegas Sands Corp.

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