The big deal – Accor Group $3 Billion for Raffles, Fairmont and Swissôtel

The big deal.

Accor Group purchased Fairmont Raffles Hotels International (FRHI), the Toronto-based parent company to the Fairmont, Raffles, and Swissôtel brands.

FRHI’s iconic and often historic properties include such hotels as the original Raffles Hotel in Singapore.

Contributed by Jens Hoffmann

The acquisition of privately owned FRHI, which has more than 155 properties around the world, was approved by Accor shareholders in a special meeting held at Accor’s Paris headquarters and the deal consists of payment in both $840 million in cash and 46.7 million shares of Accor, totaling nearly $3 billion.

FRHI was formed in 2006 and was previously owned by the Qatar Investment Authority and Kingdom Holding Company of Saudi Arabia as well as Oxfrod Properties, an Ontario Municipal Employees Retirement System company. As part of the deal with Accor, both of those entities are now major shareholders of Accor (10.5 percent for Qatar and 5.8 percent for Kingdom) and will add three new representatives to the Accor board.

The addition of FRHI is particularly strategic and valuable for Accor, which hopes to leverage FRHI’s luxury brands and reputation to build up the company’s portfolio of luxury hotels, especially in the Americas. Prior to the acquisition, Accor’s main luxury brand was Sofitel, which has 121 properties worldwide.

“This acquisition is a great accelerator of transformation for our group,” AccorHotels CEO Sebastien Bazin told House & Hotel.
“It positions AccorHotels as a key leading player in the luxury hotel market; diversifying our group and enhancing this area of our business is a key part of our strategic plan.”

FRHI will also complement Accor’s most recent purchase, Onefinestay. Onefinestay CEO Greg Marsh said Accor’s purchase of FRHI “was a huge part of why I wanted to work with them” and showed him “they were absolutely sincere about wanting to build a luxury portfolio.”

“Roughly 23-odd-million people a year go stay in Sofitel, Fairmont, or Raffles properties. Twenty-three million walk through the door, stay in one of those rooms, every calendar year.

I only need to believe that 1 percent of 1 percent of those people will find Onefinestay’s product interesting for certain other types of trips that they make during the course of the year. To believe that is insanely attractive as a potential marketing base for us.”

So didi I.

Singapore @Changi Airport.

A taxi to the Raffles my favourite hotel in Singapore. Easy to start the day with a massage and a Singapore Sling, the favourite drink of Hemingway, Alfred Hitchcock and many more.

Even when its now #2 in Singapore I love the classic style of the Raffles Hotel.

The colonial-style hotel is amazingin its one the world’s greatest hotel, Raffles Singapore stands where it has always stood, at the crossroads of civilisation and culture, a colonial oasis in the heart of a exciting cities.

Tradition demands it.

First opened in 1887, and since then a destination in its own right, Raffles Singapore epitomises the romance of the Far East – an intoxicating blend of luxury, history and colonial ambiance that no other hotel can match.
Immortalised by writers including Somerset Maugham, Rudyard Kipling, Ernest Hemingway and Alfred Hitchcock, Raffles is the perfect place from which to explore Singapore. Or in which to merely sit and watch the world go by. The legendary Palm Court, the white marble colonnades and the unique air of romantic grandeur transport you back to a more elegant age, while the seamless service, contemporary technology and attention to detail is completely of our time.

Liveried Sikh doormen usher guests through an ornate wrought-iron portico into a lobby that seems unaltered from the turn of the century. Stroll the polished teak verandas past tropical gardens to suites with an elegant parlour, period furnishings, a bedroom that leads to a dressing room and en suite bathroom. Luxuriate in the history, in the scent of frangipani in the evening, in the Raffles Spa, or order room service from the legendary Raffles butlers. 15 restaurants and bars also await; from the famous Long Bar (home of the Singapore Sling), to the Bar & Billiard Room, Raffles is alive with history, infused with atmosphere, and open to the moment.Conveniently close to the financial hub of this entrepreneurial city, Raffles makes business travel to get a pleasure. I felt that here the legend began the funky Raffles Singapore style which was exciting and loved by those with an adventurous spirit and a taste for the very best. With its distinctive architecture and large grounds with lush gardens, courtyards and fountains, the Raffles is a real legend. The hotel is currently managed by Fairmont Raffles Hotels International and houses a tropical garden courtyard, museum, and Victorian-style theatre.

The firm leased the hotel and land from two owners: Syed Mohamed Alsagoff and Seah Liang Siah. Designed by the architect Regent Alfred John Bidwell of Swan and Maclaren, the current main building of Raffles Hotel was completed in 1899. The hotel continued to expand over the years with the addition of wings, a veranda, a ballroom, a bar and a billiards room, and further buildings and rooms.

Upon the start of the Japanese occupation of Singapore it is commonly said that the Japanese soldiers encountered the guests in Raffles Hotel dancing one final waltz.During World War II, Raffles Hotel was renamed “Light of the South”, the Japanese name for occupied Singapore.
At the end of the war, the hotel was used as a prison and in 1987, the Singapore government declared the hotel a National Monument. The hotel also houses the Raffles Hotel Museum, which displays the rich history of the hotel. It was created after a well-orchestrated heritage search. Raffles is the setting for Murakami Ryu’s novel and it’s film adaptation titled “Raffles Hotel”.

The film was shot on location.

Its worth to test the restaurant “Jaan”!:

The restaurant Jaan is located on the 70th floor of the Swissôtel, and as you might expect has a spectacular view over the city.
There has been considerable change in the kitchen in the last couple of years and we are always say hello to new faces.The carpeted dining room had around a dozen well-spaced, large tables, and there was rather unnecessary muzak playing in the background. There was a rather incongruous industrial feel to the ceiling of the room, which doubtless was the result of careful and expensive interior design.
In addition to the a la carte menu there were five and eight course tasting menus, the 30 pages wine list was presented on an ipad and included wines such as Chablis Domaine St Claire 2008
So lets talk food.

It started with crisp salmon skin with lemon cream, which war very nice and tasty.
A further amuse-bouche was cep sabayon with fresh walnuts and lovage and displayed in a cafetiere was a
wild mushroom tea poured out at the table by the waiter, the cep sabayon itself was excellent. Breads are made in the kitchen and consisted of a series of rolls: black truffle brioche, black olive roll, sourdough roll and baguette. The breads were pleasant.

A single scallop had nice flavour but was was a bit overcooked, served with a pea puree and a watery tarragon nage. Boudin blanc of young pheasant had pleasant texture but surprisingly little flavour, served with rather tasteless small trompette mushrooms and a little Madeira sauce. Hmm. Later on we had rib of beef thas was really yummy, served with artichokes, confit tomatoes. Caramelised honey pear was pleasant enough, served with a good ginger ice cream and butter shortbread.

All in all a nice experience, especially with the great view over Singapore.

Bye Singapore.

A legend in Singapore – The Raffles

Annex about Singapore: International Airport Changi.

Singapore Changi is the best airport in the world.

The airport #1 for its overall soothing ambiance, intuitive layout and friendly staff.

You spend too much cash on luxury things in Singapore, no problem.

The airport continues to impress travellers with its comfort and long list of free activities.
At Changi, travellers can sleep in special relaxation zones that feature reclining lounge chairs and padded seating. After a nap, travellers can connect to the internet using the free WiFi and internet stations, enjoy a free city tour of Singapore, join a cultural activity or walk in one of the seven gardens.
Other airport amenities include a movie theatre, music and TV lounges, a swimming pool, Jacuzzi, 24-hour massage and spa facilities, video games, and a 4-storey slide.
The Social Tree, an interactive attraction designed to share and remember your Changi experiences.

Travellers rave about Changi’s 6 rest zones with special reclining sleep seats. They are popular watch out, if they are busy, showers area available.

For me: Asia’s new marvel.