A merger of the two big chains would create a new world No 1, taking the place of Marriott InternationalThe hotel sector is in the consolidation spotlight this morning amid suggestions that the French group Accor has been mulling over a possible bid for the London-listed Intercontinental Hotels Group (IHG). A marriage of two of the world’s biggest hotel companies would enable the enlarged business to leapfrog Marriott International and claim the No 1 spot with a total of just over 11,000 hotels around the world. A report in Le Figaro claims that in June Sébastien Bazin, the Accor chief executive, put together a team with Jean-Jacques Morin, his finance chief, and the investment banks Centerview and Rothschild to investigate a possible approach. The Times understands that one of the ideas mooted by the bid team is seeking private equity backing to make a

Source: The Times August 20, 2020 07:52 UTC