Processes are described for fractionating lignocellulosic biomass into cellulose, hemicellulose, and lignin, comprising fractionating lignocellulosic biomass in the presence of a solvent for lignin (such as ethanol), a hydrolysis catalyst (such as sulfur dioxide), and water, to produce a liquor containing hemicellulose, celluloserich solids, and lignin; hydrolyzing the hemicellulose to produce hemicellulosic monomers; saccharifying the cellulose-rich solids to produce glucose; recovering the hemicellulosic monomers and the glucose, separately or in a combined stream, as fermentable sugars; and fermenting the fermentable sugars to a fermentation product having a higher normal boiling point than water. Process integration of mass and/or energy is disclosed in many specific embodiments. The fermentation product may include an organic acid, an alcohol, a diol, or combinations thereof.