Dec 12, 2015, 4:13 am
Last edit by: starflyergold
What we know:
On 9 December 2015 Accorhotels announced an agreement with the Qatar Investment Authority (QIA), Kingdom Holding Company (KHC) of Saudi Arabia and Oxford Properties, an Ontario Municipal Employees Retirement System (OMERS) company for the acquisition of FRHI Holdings Ltd (FRHI), parent of Fairmont, Raffles, and Swissôtel. Accorhotels will be paying $840 million in cash and by issuing 46.7 million new shares. As part of the transaction, QIA will have two seats on Accor’s board while KHC will take another.
FRHI?
FRHI is the holding company for the Fairmont, Raffles, and Swissôtel brands. FRHI is a management company and the portfolio is almost exclusively on long-term management contracts; i.e. this does not include the brick and mortar in most cases but long term leases of the hotels concerned. 155 hotels are included in the deal and 40 developments which equates to 56,000 rooms in total.
Fairmont
Fairmont Hotels & Resorts is a Canadian-based operator of hotels and resorts. Currently, Fairmont operates properties in 19 countries.
Canada: Banff, Calgary, Charlevoix, Edmonton, Jasper, Lake Louise, Mont Tremblant, Montebello, Montreal, Ottawa, Québec City, Toronto, Vancouver (4), Victoria, Whistler, Winnipeg
United States: Berkeley, Boston, Chicago, Dallas, Hawaii, Maui, New York, Newport Beach, Pittsburgh, San Diego, San Francisco (2), San Jose, Santa Monica, Scottsdale, Seattle, Sonoma, Telluride, Washington DC
Asia: Bali, Beijing, Jaipur, Jakarta, Kunshan, Manila, Nanjing, Shanghai, Singapore
Europe: Baku, Barcelona, Hamburg, Kiev, London, Monte Carlo, Montreux, St Andrews
Mexico, Caribbean and Bermuda: Barbados, Hamilton, Riviera Maya, Southampton
Middle East and Africa: Abu Dhabi, Ajman, Cairo (3), Dubai (2), Makkah, Masai Mara, Mount Kenya, Nairobi, Zimbali (2)
In Development: Amman (2015), Austin (2017), Chengdu (2015), Fujairah (2015), Istanbul (2016), Lagos (2016), Moscow (2016), Riyadh (2015), Sharm el Sheikh (2015), Soma Bay (2020), Suzhou (2018), Taiyuan (2016), Zhengzhou (2018).
Fairmont has its own Flyertalk forum. It's current loyalty programme is called President's Club. The programme also covers Raffles and Swissôtel though the latter also operates its own loyalty programme.
Raffles
Raffles was established in 1887 in Singapore and currently comprises 12 luxury hotels with 4 in development.
Asia: Beijing, Hainan, Jakarta, Manila, Phnom Penh, Siem Reap, Singapore,
Europe: Istanbul, Paris,
Middle East and Africa: Dubai, Makkah, Praslin,
In Development: Jeddah (2018), Sharm el-Sheikh (2019), Shenzhen (2019), Warsaw (2017)
Swissôtel
Swissôtel was founded in 1980 as a joint venture between Swissair and Nestlé and currently includes 37 properties in 17 countries.
Australia: Sydney
Asia: Beijing, Foshan, Kunshan, Shanghai, Kolkata, Osaka, Singapore (2), Bangkok (2), Phuket
Europe: Tallinn, Berlin, Bremen, Dresden, Düsseldorf-Neuss, Amsterdam, Moscow, Sochi, Basel, Geneva (2), Zurich, Ankara, Bodrum (2), Istanbul (2), Izmir
Latin America: Quito, Lima,
United States: Chicago
Middle East: Makkah
In Development: Dhaka (2017), Sofia (2018), Changsha (2016), Chengdu (2016), Hangzhou (2019), Jinan (2020), Guayaquil (2017), Cairo (2020), Sharm el Sheikh (2016), Bali (2017), Jeddah (2017), Dubai (2018).
Swissôtel operates its own loyalty programme called Swissôtel Circle. This and Swissôtel hotels are currently being discussed in the Other Hotel Chains forum.
What happens next?
On 26 April 2016 Accor announced that it has received antitrust clearance for the purchase in relevant jurisdictions. The next step with be an extraordinary shareholders meeting (to be held on the 12th July 2016) to approve the capital increase and proposed board composition.
The deal closed on 12 July 2016. Nothing from a loyalty perspective will change immediately and the respective programmes and hotels will continue to operate as before.
FRHI inventory was loaded onto the Accor system on 12 July 2016, however none of the hotels will earn any points or can be used to redeem them. At the shareholder meeting Accor seemed to indicate that it will take 18 months for the loyalty aspects to be sorted. However it was clear that Le Club will be the future loyalty programme for all hotels.
Loyalty Integration
As of 2 July 2018 the Fairmont President's Club will cease to exist (the same goes for the Swissotel Circle). Both programmes will be folded into Le Club Accorhotels.
What does this mean for Le Club members? You will be able to earn and redeem points, and receive status related perks at all former FRHI hotels. This includes: early/late check in, welcome drink, upgrade (subject to availability), welcome amenity, free wifi. Lounge access for Platinum members will apply to Swissotel (where available) but does not include the Fairmont Gold Service (unless of course booked, including with points). Any stays at former FRHI hotels from January will contribute to your "night count" but no points will be accrued until 2 July.
What does this mean to FPC members? Members will be transferred into Le Club in July. Platinum members will become Le Club Platinum members, Premier will be Silver, Club will be standard members. The "nights stayed" count will transfer to Le Club in July and contribute to status in Le Club. However points will only accrue from July. Suite certificates can be used up beyond July.
On 9 December 2015 Accorhotels announced an agreement with the Qatar Investment Authority (QIA), Kingdom Holding Company (KHC) of Saudi Arabia and Oxford Properties, an Ontario Municipal Employees Retirement System (OMERS) company for the acquisition of FRHI Holdings Ltd (FRHI), parent of Fairmont, Raffles, and Swissôtel. Accorhotels will be paying $840 million in cash and by issuing 46.7 million new shares. As part of the transaction, QIA will have two seats on Accor’s board while KHC will take another.
FRHI?
FRHI is the holding company for the Fairmont, Raffles, and Swissôtel brands. FRHI is a management company and the portfolio is almost exclusively on long-term management contracts; i.e. this does not include the brick and mortar in most cases but long term leases of the hotels concerned. 155 hotels are included in the deal and 40 developments which equates to 56,000 rooms in total.
Fairmont
Fairmont Hotels & Resorts is a Canadian-based operator of hotels and resorts. Currently, Fairmont operates properties in 19 countries.
Canada: Banff, Calgary, Charlevoix, Edmonton, Jasper, Lake Louise, Mont Tremblant, Montebello, Montreal, Ottawa, Québec City, Toronto, Vancouver (4), Victoria, Whistler, Winnipeg
United States: Berkeley, Boston, Chicago, Dallas, Hawaii, Maui, New York, Newport Beach, Pittsburgh, San Diego, San Francisco (2), San Jose, Santa Monica, Scottsdale, Seattle, Sonoma, Telluride, Washington DC
Asia: Bali, Beijing, Jaipur, Jakarta, Kunshan, Manila, Nanjing, Shanghai, Singapore
Europe: Baku, Barcelona, Hamburg, Kiev, London, Monte Carlo, Montreux, St Andrews
Mexico, Caribbean and Bermuda: Barbados, Hamilton, Riviera Maya, Southampton
Middle East and Africa: Abu Dhabi, Ajman, Cairo (3), Dubai (2), Makkah, Masai Mara, Mount Kenya, Nairobi, Zimbali (2)
In Development: Amman (2015), Austin (2017), Chengdu (2015), Fujairah (2015), Istanbul (2016), Lagos (2016), Moscow (2016), Riyadh (2015), Sharm el Sheikh (2015), Soma Bay (2020), Suzhou (2018), Taiyuan (2016), Zhengzhou (2018).
Fairmont has its own Flyertalk forum. It's current loyalty programme is called President's Club. The programme also covers Raffles and Swissôtel though the latter also operates its own loyalty programme.
Raffles
Raffles was established in 1887 in Singapore and currently comprises 12 luxury hotels with 4 in development.
Asia: Beijing, Hainan, Jakarta, Manila, Phnom Penh, Siem Reap, Singapore,
Europe: Istanbul, Paris,
Middle East and Africa: Dubai, Makkah, Praslin,
In Development: Jeddah (2018), Sharm el-Sheikh (2019), Shenzhen (2019), Warsaw (2017)
Swissôtel
Swissôtel was founded in 1980 as a joint venture between Swissair and Nestlé and currently includes 37 properties in 17 countries.
Australia: Sydney
Asia: Beijing, Foshan, Kunshan, Shanghai, Kolkata, Osaka, Singapore (2), Bangkok (2), Phuket
Europe: Tallinn, Berlin, Bremen, Dresden, Düsseldorf-Neuss, Amsterdam, Moscow, Sochi, Basel, Geneva (2), Zurich, Ankara, Bodrum (2), Istanbul (2), Izmir
Latin America: Quito, Lima,
United States: Chicago
Middle East: Makkah
In Development: Dhaka (2017), Sofia (2018), Changsha (2016), Chengdu (2016), Hangzhou (2019), Jinan (2020), Guayaquil (2017), Cairo (2020), Sharm el Sheikh (2016), Bali (2017), Jeddah (2017), Dubai (2018).
Swissôtel operates its own loyalty programme called Swissôtel Circle. This and Swissôtel hotels are currently being discussed in the Other Hotel Chains forum.
What happens next?
On 26 April 2016 Accor announced that it has received antitrust clearance for the purchase in relevant jurisdictions. The next step with be an extraordinary shareholders meeting (to be held on the 12th July 2016) to approve the capital increase and proposed board composition.
The deal closed on 12 July 2016. Nothing from a loyalty perspective will change immediately and the respective programmes and hotels will continue to operate as before.
FRHI inventory was loaded onto the Accor system on 12 July 2016, however none of the hotels will earn any points or can be used to redeem them. At the shareholder meeting Accor seemed to indicate that it will take 18 months for the loyalty aspects to be sorted. However it was clear that Le Club will be the future loyalty programme for all hotels.
Loyalty Integration
As of 2 July 2018 the Fairmont President's Club will cease to exist (the same goes for the Swissotel Circle). Both programmes will be folded into Le Club Accorhotels.
What does this mean for Le Club members? You will be able to earn and redeem points, and receive status related perks at all former FRHI hotels. This includes: early/late check in, welcome drink, upgrade (subject to availability), welcome amenity, free wifi. Lounge access for Platinum members will apply to Swissotel (where available) but does not include the Fairmont Gold Service (unless of course booked, including with points). Any stays at former FRHI hotels from January will contribute to your "night count" but no points will be accrued until 2 July.
What does this mean to FPC members? Members will be transferred into Le Club in July. Platinum members will become Le Club Platinum members, Premier will be Silver, Club will be standard members. The "nights stayed" count will transfer to Le Club in July and contribute to status in Le Club. However points will only accrue from July. Suite certificates can be used up beyond July.
Accor buys FRHI Holdings (Fairmont, Raffles and Swissôtel)
Dec 15, 2015, 2:41 am
#62
Join Date: Feb 2011
Location: Asia
Programs: Krisflyer, Enrich, Marco Polo, Accor, HHonors, IHG
Posts: 610
Interesting interview in Hotels Magazine with Kingdom Holding about the sale indicating growth potential for the Fairmont brand and the integration of Swissôtel (requires free registration) http://www.hotelsmag.com/Industry/News/Details/63231
Dec 15, 2015, 3:53 am
#63
Join Date: Jun 2007
Location: ASIA
Programs: TK Elite, ALL Plus Diamond, Marriott Platinum, Hertz PC
Posts: 3,530
Interesting interview in Hotels Magazine with Kingdom Holding about the sale indicating growth potential for the Fairmont brand and the integration of Swissôtel (requires free registration) http://www.hotelsmag.com/Industry/News/Details/63231
Dec 17, 2015, 12:26 am
#64
Join Date: Nov 2015
Programs: hilton, hyatt, ihg, accor, best western, marriott, starwood
Posts: 74
When can we enjoy elite member benefits in Raffles, Fairmont?
Hi,
Since Accor is going to acquire Raffles and Fairmont (or have acquired). Do you know when we can start to get the elite benefits in these hotels?
Since Accor is going to acquire Raffles and Fairmont (or have acquired). Do you know when we can start to get the elite benefits in these hotels?
Dec 17, 2015, 12:40 am
#65
Moderator, Turkish Airlines Miles&Smiles & Accor ALL
Join Date: Apr 2009
Location: BRU
Programs: TK*G, Accor ALL Platinum
Posts: 7,587
Dec 22, 2015, 2:15 am
#66
FlyerTalk Evangelist
Join Date: May 2009
Location: FRA / YEG
Programs: AC Super Elite, Radisson Platinum, Accor Platinum
Posts: 11,874
Dec 22, 2015, 8:31 am
#67
Join Date: Jun 2007
Location: ASIA
Programs: TK Elite, ALL Plus Diamond, Marriott Platinum, Hertz PC
Posts: 3,530
Dec 23, 2015, 7:05 pm
#68
Join Date: Apr 2015
Location: SIN
Programs: HH Diamond, Marriott Platinum, IHG Platinum, QR Gold, KrisFlyer Elite Gold
Posts: 96
Recent news from Singapore media. Check out the video. In the article, it is mentioned that Swissotel and Fairmont Singapore will continue to be managed by RC Hotel:
http://www.channelnewsasia.com/news/...f/2334904.html
http://www.channelnewsasia.com/news/...f/2334904.html
Jan 15, 2016, 9:26 pm
#69
Join Date: Sep 2015
Location: Shinjuku, Tokyo
Programs: Accor Plus Plat, Marriot Plat, AF Silver
Posts: 315
Today's corporate comm:
http://m.mid.accor-mail.com/nl/jsp/m...13557525fa1949
Brands will remain as they as for now, maybe some will eventually be "adjusted" to Accor own brands over time to fit the portfolio?
Julien
http://m.mid.accor-mail.com/nl/jsp/m...13557525fa1949
Coming very soon…
… new prestigious brands!
Raffles, Fairmont, Swissotel
What better news for 2016 than welcoming three prestigious luxury brands to our family? The AccorHotels team is pleased to announce that an agreement has been signed for the future acquisition of Raffles Hotels, Fairmont and Swissôtel in 2016.
… new prestigious brands!
Raffles, Fairmont, Swissotel
What better news for 2016 than welcoming three prestigious luxury brands to our family? The AccorHotels team is pleased to announce that an agreement has been signed for the future acquisition of Raffles Hotels, Fairmont and Swissôtel in 2016.
Julien
Jan 15, 2016, 9:31 pm
#70
Join Date: Sep 2015
Location: Shinjuku, Tokyo
Programs: Accor Plus Plat, Marriot Plat, AF Silver
Posts: 315
Recent news from Singapore media. Check out the video. In the article, it is mentioned that Swissotel and Fairmont Singapore will continue to be managed by RC Hotel:
http://www.channelnewsasia.com/news/...f/2334904.html
http://www.channelnewsasia.com/news/...f/2334904.html
Initially Starwood, it was sold to Daisho after only one month of operations but remains under Starwood management.
Julien
Jan 16, 2016, 4:43 am
#71
Join Date: Dec 2007
Location: LUX
Programs: LH SEN, BA Silver, HH SILVER, Bonvoy PLAT, A/club PLAT, Hyatt Diamond
Posts: 838
Sure They will. Accor's strategy is put its own major brands upfront in the portfolio. I am sure at least 25 % of the acquired portfolio will be re branded to Sofitel or Pullman
Jan 17, 2016, 9:36 am
#72
Moderator, Turkish Airlines Miles&Smiles & Accor ALL
Join Date: Apr 2009
Location: BRU
Programs: TK*G, Accor ALL Platinum
Posts: 7,587
I have been working on a comparison of the Fairmont President's Club with Le Club Accorhotels. Maybe those familiar with Fairmont could let me know if I have captured the main items correctly.
Jan 17, 2016, 10:58 am
#74
Join Date: Mar 2012
Programs: Marriott & SPG Plat, HH Diamond, Accor Plat, ex-Fairmont Plat, ex-Swissotel Eleva
Posts: 710
I think free dining cert should be 50 & 100 USD for Premier and Plat (i.e. the other way round)
One other key benefit is Fairmont Premier and Plat can use Fairmont Fit (free provision of gym gear, including socks).
Airmiles is subjected to very obscure rules that I have received it less than half the time, that I think it is better with an "*".
(as you will not get your miles most of the time - and I speak both as a Fairmont Plat and Swissotel Eleva)
Perhaps U can include Swissotel Eleva (as Fairmont stays can count towards Eleva qualification - but their highest tier Swissotel Zenith - can only be achieved via pure Swissotel stays. ).
However, the cross-benefits of Fairmont Plat for stays in Swissotels or Elevas in Fairmonts, are really minimal.
One other key benefit is Fairmont Premier and Plat can use Fairmont Fit (free provision of gym gear, including socks).
Airmiles is subjected to very obscure rules that I have received it less than half the time, that I think it is better with an "*".
(as you will not get your miles most of the time - and I speak both as a Fairmont Plat and Swissotel Eleva)
Perhaps U can include Swissotel Eleva (as Fairmont stays can count towards Eleva qualification - but their highest tier Swissotel Zenith - can only be achieved via pure Swissotel stays. ).
However, the cross-benefits of Fairmont Plat for stays in Swissotels or Elevas in Fairmonts, are really minimal.
Jan 17, 2016, 12:10 pm
#75
Moderator, Turkish Airlines Miles&Smiles & Accor ALL
Join Date: Apr 2009
Location: BRU
Programs: TK*G, Accor ALL Platinum
Posts: 7,587
I think free dining cert should be 50 & 100 USD for Premier and Plat (i.e. the other way round)
One other key benefit is Fairmont Premier and Plat can use Fairmont Fit (free provision of gym gear, including socks).
Airmiles is subjected to very obscure rules that I have received it less than half the time, that I think it is better with an "*".
(as you will not get your miles most of the time - and I speak both as a Fairmont Plat and Swissotel Eleva)
Perhaps U can include Swissotel Eleva (as Fairmont stays can count towards Eleva qualification - but their highest tier Swissotel Zenith - can only be achieved via pure Swissotel stays. ).
However, the cross-benefits of Fairmont Plat for stays in Swissotels or Elevas in Fairmonts, are really minimal.
One other key benefit is Fairmont Premier and Plat can use Fairmont Fit (free provision of gym gear, including socks).
Airmiles is subjected to very obscure rules that I have received it less than half the time, that I think it is better with an "*".
(as you will not get your miles most of the time - and I speak both as a Fairmont Plat and Swissotel Eleva)
Perhaps U can include Swissotel Eleva (as Fairmont stays can count towards Eleva qualification - but their highest tier Swissotel Zenith - can only be achieved via pure Swissotel stays. ).
However, the cross-benefits of Fairmont Plat for stays in Swissotels or Elevas in Fairmonts, are really minimal.