Last year was the year of big moves from hospitality giants. French company AccorHotels was not an exception as last December it announced it would acquire FRHI Holdings, the owner of three iconic luxury hotel brands: Fairmont, Raffles and Swissôtel. Together, FRHI has a collection of 155 hotels and resorts worldwide, of which 40 are under development. AccorHotels will pay for the acquisition by issuing 46.7 million new Accor shares and a cash payment of $840 million. FRHI in Indonesia currently has three properties in Indonesia, with two Fairmonts in Bali and Jakarta, and one Raffles hotel in Jakarta. The