Properties in AccorHotels to meet on strategies after acquisitions

[rooster59]

Properties in AccorHotels to meet on strategies after acquisitions

SUCHAT SRITAMA
THE NATION

BANGKOK: AFTER AccorHotels acquired three more hotel brands, nearly 60 properties in Thailand under its management are to discuss strategies.

The French hotel group yesterday announced that it had acquired three iconic brands, Fairmont, Raffles and Swissotel, in strategic deals that make it a worldwide leader in the luxury segment.

An executive at AccorHotels' Bangkok office said the group would hold discussions with the owners of all of the hotels under its management as well as owners of the new brands to line up new business plans and business strategies.

The source said AccorHotels would ask all of the hotels currently under its umbrella whether the wished to stay with the group, and would do the same with its new members.

Currently, AccorHotels operates 55 hotels in Thailand with 13,103 rooms, under multiple brands such as Sofitel, Novotel, Pullman, Mercure and Ibis.

In the Asia-Pacific region, the group operates up to 668 hotels and 128,284 rooms.

There are seven Swissotel, Fairmont and Raffles hotels in upper Southeast Asia, including Swissotel Le Concorde Bangkok, Swissotel Nai Lert Park Bangkok, and Swissotel Resort Phuket. The others are Fairmont Makati and Raffles Makati in Manila, Raffles Hotel Le Royal in Phnom Penh, and Raffles Grand Hotel d'Angkor in Siem Reap.

"In Thailand, AccorHotels should take at least six months to talk with all 55 hotels operated by AccorHotels and the three Swissotels," the source said.

AccorHotels signed an agreement with the Qatar Investment Authority, Saudi Arabia's Kingdom Holding Company and Oxford Properties, an Ontario Municipal Employees Retirement System company, for the acquisition of FRHI Holdings, parent of Fairmont, Raffles and Swissotel.

Great step forward

"This is an outstanding opportunity to add three prestigious |to our portfolio, and a great |step forward for AccorHotels," said Sebastien Bazin, chairman and chief executive officer of AccorHotels. "It offers us robust and global leadership in luxury hotels, a key segment in terms of geographic reach, growth potential and profitability, for long-term value creation."

With nearly 500 luxury |and upscale properties, AccorHotels will become one of the key global players in this segment and will be able to offer the |most profitable management contracts and the best growth potential in many markets, the company says.

Source: http://www.nationmultimedia.com/business/Properties-in-AccorHotels-to-meet-on-strategies-af-30274769.html

-- The Nation 2015-12-12

[thailanddogerator]

Yes, better than their ridiculous Ibis hotels in Thailand...