AccorHotels shareholder Kingdom Holding indicates thirst for more deals; IHG considered likely target
AccorHotels (EPA:AC) of France appears to be on track for further M&A deals after last week’s USD 3bn acquisition of FRHI Holdings, The Sunday Times reported.
The FRHI deal will see Saudi Arabia’s Prince Alwaleed bin Talal become a major Accor investor via his Kingdom Holding investment fund, the report noted.
According to Sarmad Zok, who heads the hotel operations of Kingdom, the enlarged Accor will “clearly” be a predator rather than prey among its peers, the item reported.
InterContinental Hotels Group (NYSE:IHG), the UK-based hotel operator, is considered a likely target and may be vulnerable, the report said. It noted that IHG failed with its own bids for FRHI and rival US-based hotels group Starwood earlier this year.
Berenberg analysts suggested Chicago-headquartered Hyatt Hotels Corp, as well as IHG, is a potential target for consolidation, the report said.
Sunday Times