Accor will acquire the Fairmont, Raffles and Swissôtel hotel brands in a deal worth A$4 billion.
The mega-merger will see some 115 hotels within the three chains – and 40 more under development – added to the Accor network to create a “worldwide leader in the luxury segment” with around 500 high-end properties such as Singapore's Raffles hotel, the Savoy in London and the Plaza in New York.
It will significantly boost Accor's footprint in North America and Asia.
This is the second hotel merger in as many months, and follows Marriott's A$17 billion buy-out of Starwood announced in November.
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