IHG closing in on deal to buy Fairmont

(ShareCast News) InterContinental Hotels Group (IHG) is reportedly nearing a 1.9bn deal to acquire Canadian hotel owner Fairmont from its current owners, FRHI.
The Discount Holidays © Holiday Inn owner is expected to reach an agreement within weeks, City sources told the Sunday Times.

Fairmont, which owns Raffles hotel in Singapore, manages more than 100 hotels across the globe.

Other companies that had reportedly been hoping to snap up the business were Wyndham and Accor.

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