AccorHotels announced it has met a new key milestone to finalize the acquisition of Fairmont Raffles Hotels International, after it received clearings from antitrust authorities in all relevant jurisdictions.

AccorHotels announced yesterday that it had received the approval of antitrust authorities in all relevant jurisdictions, satisfying one of the closing conditions of the pending acquisition of Fairmont Raffles Hotels International.

As previously announced, the main next step to finalize this acquisition will be AccorHotels’ Extraordinary Shareholders Meeting to approve the reserved capital increase and Board representations for Qatar Investment Authority and Kingdom Holding. This meeting should take place in the coming weeks. The transaction is expected to close mid-2016.

This operation should enable AccorHotels to climb ahead of Choice Hotels in the world ranking of major hotel groups. The acquisition would particularly strengthen AccorHotels in the upscale and luxury categories, a segment on which it previously lagged behind other global leaders. Therefore, the French hotel operator will become #5 worldwide in the upscale and luxury segments.

Global supply of international hotel groups on the upscale and luxury segments as of 1/1/2015



Also Read :

• A look at a year of consolidation in the hotel industry
• AccorHotels acquires FRHI Hotels & Resorts