by Cheryl-Anne Sturken | November 02, 2015
According to a Wall Street Journal news report, French hotel operator Accor is in talks to acquire Toronto-based FRHI Hotels & Resorts for roughly $3 billion. Earlier this year FRHI - which owns the luxury hotel brands Fairmont, Raffles and Swissotel, and has a portfolio of 105 hotels in 33 countries - had hired Deutsche Bank and Morgan Stanley to estimate the market value of the company. Paris-based Accor hotels has been undergoing a reorganization under its new CEO, Sebastian Bazin, who took over the helm two years ago.