Accor buying FRHI Hotels
"It will allow Accor to better compete in a competitive landscape which sees increasing pressures from online travel agencies and peer-to-peer platforms, and consolidation amongst competing hotel players," he said.
"While FRHI has some iconic hotels in its portfolio, like the Savoy in London, it is mainly the company’s strength in the luxury segment outside Europe which will have attracted Accor.
"Raffles is a luxury brand mostly based in Asia and the Middle East, Fairmont is very strong in North America, and Swissotel will expand Accor’s luxury offering in Europe while also having a strong pipeline in China.
"Accor’s revenue is heavily reliant on sales from Europe, but since the economic crisis this has been an underperforming region.
"In contrast, Accor’s main competitors are strong in the US and have benefited from a strong performance of the North American hotel market."
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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