Europe's largest hotel operator, Accor, has agreed to a deal to buy FRHI Holdings - the company that owns hotel brands Fairmont, Swissotel and Raffles - in a deal worth about US$2.9 billion (S$4.1 billion) in cash and shares. FRHI is jointly owned by the Qatar Investment Authority (QIA), Kingdom Holding Company of Saudi Arabia and Oxford Properties, the real estate division of the Ontario Municipal...
Accor
Catalist-listed Keong Hong Holdings on Thursday (Apr 16) said it has appointed French hotel giant Accor to manage its first two hotels in the Maldives. The two hotels are being developed by Pristine Islands Investments, a joint venture between Keong Hong Construction (a wholly-owned subsidiary of Keong Hong Holdings) and its partners. Accor will provide the full spectrum of hotel management services,...
Hotel group Accor on Tuesday announced the purchase of 97 hotels in Europe through its HotelInvest business for a total of 900 million euros ($1 billion). The group is buying a first portfolio of 86 hotels, representing 11,286 rooms across Germany and the Netherlands, which have been operated by Accor since 2007 under the Ibis, Ibis budget, Mercure and Novotel brands. These hotels, worth 722 million...
European hotel developer Accor opened a new hotel in Singapore on Thursday, and announced that it is starting work on another hotel to be launched in 2011. Despite the weak global economy and dwindling visitor arrivals here, Accor said it still has a positive long-term outlook on the Singapore tourism sector. The firm invested S$145 million into its latest property called Ibis Singapore on Bencoolen in...
Global economy hotel chain, ibis, will set up its largest branch outside Europe here. The 538-room hotel will be the first ibis in Singapore and will open its doors on February 24 next year. ibis Singapore on Bencoolen plans to target leisure and business travellers with its debut nightly rate of S$148 per room. Located along Bencoolen Street, the S$145 million hotel is being developed by LaSalle...