A key theme for 2016 in the hospitality sector has been consolidation. An article published by Big Hospitality looks at French chain AccorHotel's acquisition of FRHI Hotels & Resorts in 2016, and Accor's plans to expand its Mercure brand in 2017, Accor's purchase of home rental service OneFineStay in April, and Accor's launch of budget brand Jo&Joe in September 2016.
Accor boosted its luxury portfolio in July after acquiring FRHI Hotels & Resorts, owner of the Fairmont, Raffles and Swissotel brands, for £1.9bn in one of the biggest merger deals of the year. It also ramped up its challenge to room sharing site Airbnb with the purchase of home rental service onefinestay in April and announced the launch of budget brand Jo&Joe, aimed at the millennial market, in September. The company said in January it was aiming to continue to grow its portfolio of rooms in the UK and Ireland by more than 30 per cent in to 2017.