Accor and IHG are considering merger

French hotel chain Accor is considering a merger with English rival InterContinental Hotels Group (IHG). The merger could lead to the creation of the largest group with a capitalization of $ 17 billion. According to the French newspaper Le FigaroAccor has not yet made an official offer to IHG. Shares in the French chain rose 4.2% on Friday, while IHG gained 6.2%.

Accor owns Ibis, Movenpick, Raffles and Sofitel. IHG owns the Holiday Inn, Crowne Plaza and Regent Hotels brands.

Earlier Accor announced that it will cut 1,000 jobs. The chain wants to achieve cost savings of € 200 million by 2022. Now the world’s largest hotel chain is Marriott International. She bought the Starwood chain in 2016 for $ 13 billion.

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