Are Accor and IHG merging?

i By August 20, 2020 No Comments

Are Accor and IHG merging?

Several news outlets are reporting today on a rumour that Accor is looking at a merger with IHG, a move that would create the biggest hotel company in the world.

Speculation about a merger began with an article in Le Figaro, France’s national newspaper, posted yesterday. It reported that “according to [its] information,” Accor CEO Sébastien Bazin created a team in early June to study the possibility of merging with IHG. The team is reported to have included Accor’s financial director, Jean-Jacques Morin, and the investment banks Centerview and Rothschild. The article also said the Accor Board of Directors was in favour of the merger, but Bazin was more cautious. An Accor spokesperson said the company did not comment on market matters.

However, in the wake of the article, Accor and IHG’s shares rallied—increasing 1.9 percent and 0.35 percent respectively—and the story was picked up by several major news outlets.

Here are links to some of today’s coverage.