FRHI Hotels & Resorts

FRHI Hotels & Resorts
Private
Industry
Founded 2006
Headquarters Toronto, Ontario, Canada
Number of locations
 105 Hotels (as of October 2013)
Area served
 Worldwide
Key people
 William R. Fatt (Chairman)
Number of employees
 42,000 (2013)[1]
Parent AccorHotels
Website frhi.com

FRHI Hotels & Resorts is a Toronto, Canada based hotel management company owned by AccorHotels. FRHI is the parent company that manages three brands of hotels including Fairmont, Raffles, and Swissôtel. These hotel chains together include over 100 hotels and resorts in 30 countries worldwide. The company also owned Delta Hotels at one point but sold the hotel management company in October 2007 to bcIMC, a Crown corporation owned by the Government of British Columbia. In 2015, Delta Hotels was purchased by Marriott International.

The company was formed in January 2006, when Kingdom Holdings and Colony Capital entered into a joint venture. Through that partnership the two groups acquired Fairmont Hotels and Resorts and combined Fairmont's business with Colony Capital owned Raffles Hotels International which was the parent of the Raffles and Swissôtel brands.

Qatar based Katara Hospitality and Saudi Arabia based Kingdom Holding Company.

Qatari Diar affiliate Voyager Partners subsequently acquired a majority interest in FRHI Hotels & Resorts in April 2010.

History

Raffles Hotel, Singapore is the flagship hotel of Raffles International.

Started in 1989 to oversee the restoration of Raffles Hotel and the restructuring of Raffles City, the company reopened its flagship hotel on September 16, 1991.

The company purchased the Swissôtel chain in 2001, and took over the then Westin Stamford and Plaza as the contract expired at the end of the year. On January 1, 2002, the two hotels were renamed Swissôtel The Stamford and Raffles The Plaza respectively with a refurbished look.

Former owner Raffles Holdings announced the sale of the chain on July 18, 2005 to Colony Capital from October 1, 2005. The sale included its 41 hotels and resorts, and its hotels under development. This included the landmark Raffles Hotel Singapore, which is on a 100-year lease to Colony Capital. However, Raffles City was owned by Raffles Holdings under Tincel Properties Pte Ltd when it was sold, but was eventually sold to CapitaCommercial Trust and CapitaMall Trust in July 2006.

In December 2015, Accor purchased Fairmont Hotel & Resorts along with Raffles and Swissotel in a $2.9 billion deal.[2]

References

  1. ↑ "FRHI Hotels & Resorts Background". frhi.com. 2013-09-30. Retrieved 2013-10-05.
  2. ↑ "French hotel chain Accor buys Fairmont, Raffles and Swissotel for $2.9B US". CBC News. 9 December 2015. Retrieved 10 December 2015.
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