PARIS — Hotel mergers are all the rage it seems, with the latest players being AccorHotels and FRHI Hotels & Resorts (FRHI).

Following the approval of shareholders. AccorHotels Group has officially announced the acquisition of FRHI and its three prestigious luxury hotel brands: Fairmont, Raffles and Swissôtel. This addition instantly positions AccorHotels as a leading layer in the global luxury hotel market, increases long-term profitability, and significantly expands the company’s footprint in North America.

Joining its global network is a portfolio of global brands, which includes management of many of the world’s most iconic hotels, including: The Savoy in London, Raffles Singapore, Fairmont San Francisco, New York’s The Plaza, Fairmont Le Château Frontenac in Quebec City, and Le Royal Monceau Raffles Paris.

“Today is a great day for our Group. The acquisition of these three emblematic luxury hotel brands is a historical milestone for AccorHotels. It will open up amazing growth prospects, lift our international presence to unprecedented heights, and build value over the long term,” says Sébastien Bazin, Chairman and Chief Executive Officer of AccorHotels.

In support of the acquisition, the company has appointed Chris Cahill as the Group’s Chief Executive Officer, Luxury Brands. In his new role, Chris will lead the FRHI integration process and be responsible for the strategy and global operations of AccorHotels Luxury Brands. The new structure will include Raffles, Fairmont, Sofitel Legend, So Sofitel, Sofitel, MGallery by Sofitel, Pullman and Swissôtel.

AccorHotels plans to generate approximately €65 million in revenue and cost synergies thanks to the combination of brands. Significant enhancements will also be made in terms of customer data, thanks to the integration of FRHI’s customer base that includes three million loyalty members, of which 75 percent are in North America.