FRHI Hotels & Resorts (previously known as Fairmont Raffles Hotels International) is a global

hotel management ''Hotel Management'' magazine is a trade publication produced by Questex, LLC. History and profile The magazine ''Hotel Management'' was established in New York in 1922 by Ahrens Publishers. It absorbed or merged with various other hotel managem ...

company that is based in Toronto, Ontario, Canada. FRHI is the

parent company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...

that manages three brands of hotels: Fairmont, Raffles and Swissôtel. These hotel chains collectively include more than 100 hotels and resorts in over 30 countries worldwide. Since 2016, the company has been owned by

AccorHotels Accor S.A. is a French multinational hospitality company that owns, manages and franchises hotels, resorts and vacation properties. It is the largest hospitality company in Europe, and the sixth largest hospitality company worldwide. Accor op ...

, a French multinational hotel firm.

History

FRHI was formed in January 2006, when Colony Capital and

Kingdom Holding Company The Kingdom Holding Company (KHC) ( ar, شركة المملكة القابضة) is a Saudi conglomerate holding company, based in Riyadh. The KHC is a publicly listed company on the Tadawul (Saudi stock exchange). The KHC consists of a select ...

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

Delta Hotels Delta Hotels by Marriott is a four-star brand of hotels and resorts located primarily in North America. Canadian institution Beginnings In June 1962, William Pattison and his business partners opened the 68-room Delport Inn in Richmond, BC. Tha ...

at one point, but it sold that hotel management company in October 2007 to bcIMC, a

Crown corporation A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the governmen ...

owned by the Government of British Columbia. In 2015, Delta Hotels was purchased by

Marriott International Marriott International, Inc. is an American multinational corporation, multinational company that operates, franchises, and licenses lodging including hotel, residential, and timeshare properties. It is headquartered in Bethesda, Maryland. T ...

. Voyager Partners, a

Qatari Diar The Qatar Investment Authority (QIA; ar, جهاز قطر للإستثمار) is Qatar's sovereign wealth fund. The QIA was founded by the State of Qatar in 2005 to strengthen the country's economy by diversifying into new asset classes. In 2021 ...

affiliate, subsequently acquired a majority interest in FRHI in April 2010. In December 2015, AccorHotels announced that it would be purchasing FRHI in a US$2.9 billion deal, which was completed in 2016.

Previous history of Raffles Hotels

Established in 1989 to oversee the restoration of the historic Raffles Hotel in Singapore and the restructuring of Raffles City, the Raffles hotel company reopened its flagship hotel on September 16, 1991. The company purchased the Swissôtel chain in 2001, and it took over the then Westin Stamford and Westin Plaza (both in Singapore) as the contract expired at the end of the year. On January 1, 2002, the two hotels were renamed as

Swissôtel The Stamford Swissôtel The Stamford, formerly known as The Westin Stamford, is a hotel in Singapore managed by Accor. Designed by architect I.M. Pei, at a height of it was the tallest hotel in the world when opened in 1986 and remains one of Southeast As ...

and Raffles The Plaza (now Fairmont Singapore) respectively, with a refurbished look. Former owner

Raffles Holdings Raffles Holdings was the parent company of Raffles International. It is owned by Temasek Holdings which is the investment arm of the Singapore government. In 2005, Raffles Holdings' hotel business ranked 17th or 18th in the world in terms of m ...

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 in 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 it was eventually sold to CapitaCommercial Trust and CapitaMall Trust in July 2006.

References

External links

* {{DEFAULTSORT:FRHI Hotels and Resorts 2016 mergers and acquisitions Accor Canadian companies established in 2006 Canadian subsidiaries of foreign companies Companies based in Toronto Hotel and leisure companies of Canada Multinational companies headquartered in Canada