Singapore’s iconic Raffles Hotel will embark on a 16-month restoration programme starting January 2017, the hotel announced on Tuesday. SINGAPORE’S iconic Raffles Hotel will embark on a 16-month restoration programme starting January 2017, the hotel announced on Tuesday. Structurally, the heritage property will remain unchanged; it was declared a national monument in 1987. As such, the...
Raffles Hotel
Europe's largest hotel operator, Accor, has agreed to a deal to buy FRHI Holdings - the company that owns hotel brands Fairmont, Swissotel and Raffles - in a deal worth about US$2.9 billion (S$4.1 billion) in cash and shares. FRHI is jointly owned by the Qatar Investment Authority (QIA), Kingdom Holding Company of Saudi Arabia and Oxford Properties, the real estate division of the Ontario Municipal...
Parent company, however, quietly changes name to Beach Road Hotel He had initially thought Singapore's grand dame Raffles Hotel was to be renamed Beach Road Hotel, after reading a memo last month from the hotel to its tenants. Tenants were told to address their cheques to Beach Road Hotel (1886) Ltd instead of Raffles Hotel (1886) Ltd. As the letter "wasn't very clear", the employee checked with the...
Any makeover plans for Raffles Hotel, which is to be sold to a Qatar sovereign wealth fund, will have to take into account its status as a gazetted National Monument. Proposals for any addition or alteration to the iconic landmark building must comply with the Preservation Guidelines (PGL) under the Preservation of Monuments Act, and will require the approval of both the Urban Redevelopment Authority...
AFTER three changes of ownership in seven years, the iconic Raffles Hotel looks headed for a makeover after its pending sale to a Qatar sovereign wealth fund. Qatari Diar, which is expected to assume ownership of the hotel by early next year, is looking to fund an earlier-announced extension to the hotel that envisages almost doubling the number of guest rooms. Last April, Saudi Arabian investment...
This would be part of deal that sees Qatar fund buy 40% of Fairmont Raffles Sources say the Raffles Hotel is likely to change hands - for the third time in seven years - after shareholding changes at current owner Fairmont Raffles. Toronto-based luxury hotel chain Fairmont Raffles said on Monday that Qatar's sovereign wealth fund Qatari Diar has acquired a 40 per cent stake in the group, in a US$847...
SINGAPORE'S iconic Raffles Hotel has been reportedly bought by a Qatar sovereign wealth fund for US$275 million (S$384 million). Qatari Diar - the principal real estate entity of the Qatar Investment Authority - has purchased the historic property in Beach Road from current owner Fairmont Raffles, a Toronto-based luxury hotel chain, according to an Abu Dhabi newspaper, The National. Fairmont Raffles has...
A BRITISH newspaper report has sparked off talk that Singapore’s Raffles Hotel could change owners yet again, for the second time in four years. Citing unnamed hotel industry sources, the Times of London reported yesterday that Fairmont Raffles Hotels International (FRHI) — in which Saudi Prince Alwaleed bin Talal’s Kingdom Holding Company has a controlling stake — is putting the iconic property...
Fairmont Raffles Hotel Int'l sells its stake in Raffles Hotel to ex-Credit Suisse banker THE Grand Dame of Singapore will be getting a new master — yet again. Fairmont Raffles Hotel International — controlled by Saudi Arabian billionaire Prince Alwaleed bin Talal and United States-based private-equity company Colony Capital — is selling its stake in the 120-year-old Raffles...
You may be familiar with the 121-year-old grand dame that is Raffles Hotel, but some surprises are in store at her offshoots in far-flung corners of the world. what you might not know ... • The Raffles Beijing will host the International Olympics Committee come the Games in August. It is, of course, fully booked. • The historic Le Royal Monceau in Paris will be closed for restoration works in June...