
InterContinental Hotels Group said to be about to sign an agreement with the sovereign fund of Qatar and Kingdom Holding for majority control over FRHI Hotels & Resorts for 1.9 billion pounds sterling, or close to 2.6 billion euros. The other minority shareholder, Colony Capital, has not come forward.
Based in Toronto, FRHI Hotels & Resort regroups the luxury brands Fairmont Hotels & Resorts, Raffles and Swissotel. As of January 2015, the group had a portfolio of 119 operational hotels (74 of which under the brand Fairmont Hotels & Resorts) for some 45,192 rooms (30,518 of which belong to Fairmont Hotels & Resorts), according to data published by MKG Hospitality.
By acquiring the Canadian entity, IHG would surpass 755,000 operational rooms worldwide. This would strengthen its luxury hotel supply with assets such as the Savoy in London, as well as its leading position in the ranking of international hotel groups, realized each year by MKG Hospitality (read our article).