Accor buys Raffles owner for $2.9bn - FT.com:
"Accor, Europe’s largest hotel group, has bought the owner of the Fairmont, Raffles and Swissotel hotel chains for $2.9bn in cash and shares, in the second major hotel takeover in a month.
Accor, which announced the deal for FRHI Hotels & Resorts on Wednesday, said that the purchase of 115 luxury hotels and resorts and a further 40 under development would create a “worldwide leader in the luxury segment”."
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