The deal for FRHI Hotels & Resorts will see the French company expand its presence at the luxury end of the market.
“This major acquisition demonstrates the group’s agility in a fast-changing industry and will allow us to more effectively support our guests, clients and hotel owners,” said Sebastien Bazin, chairman and chief executive of AccorHotels.
“Through it, we are positioning ourselves as a key player in the current industry consolidation process while maintaining substantial leeway to implement our transformation plan.”
Other properties in the FRHI portfolio include: Raffles Singapore and The Plaza Hotel in New York. In total it has 155 hotels and 56,000 rooms.
The deal follows the announcement last month by Marriott International of its plan to buy rival Starwood Hotels & Resorts Worldwide for $12.2 billion.
