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IHG could make a bid for FRHI Hotels & Resorts

1 min reading time

Published on 23/09/15 - Updated on 29/06/23

Savoy Londres

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.

A few months ago The Wall Street Journal revealed the possibility of the sale of FRHI Hotels & Resorts; today The Sunday Times foresees a possible takeover of the hotel group by InterContinental Hotels Group. IHG is said to be about to acquire FRHI Hotels & Resorts from its current owners, the Qatari sovereign fund, the Saudi Kingdom Holding and Colony Capital, for a total of 1.9 billion pounds sterling (or close to 2.6 billion euros). Neither of the two parties has responded to the rumor.

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).

InterContinental Hotels Group

InterContinental Hotels Group

Hotel Group

  • InterContinental Hotels Group United Kingdom
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