Jin Jiang now also shareholder of AccorHotels

Paris. AccorHotels, Europe's largest hotel group announced on Wednesday the purchase of Fairmont Raffles Hotels International Hotels & Resorts for 2.9 billion dollars in cash and shares. This is the second major hotel takeover in the past few weeks, after Marriott International bought Starwood Hotels for 12.2 billion dollars. AccorHotels' purchase financially is not as spectacular as Starwood's acquisition by Marriott but still remains significant. For the French it's the long desired ticket to the world of luxury. This is a different value.

Paris. Accor and the Chinese Huazhu Hotel Group, also known as China Lodging Group, have entered into a mutual participation and close cooperation within the Chinese market. Accor itself has pledged the quick acceleration of its expansion within the country. Additional details were provided during a press conference also broadcasted live in the internet.

Paris. Despite their undeniable strength and serious interest about Louvre Hotels portfolio, neither Accor nor Blackstone could win over Jin Jang Group. The Chinese holding and Starwood Capital Group announced two days ago that both parties signed an agreement regarding the potential sale of Groupe du Louvre and its 100% indirect subsidiary Louvre Hotels Group for an undisclosed amount. This is probably just the beginning of the Chinese run to European hospitality.