Singapore's Iconic Raffles Hotel Sold to Qatar Fund

Category: Hotels, Posted:22 Apr 2010 | 06:00 am

Sovereign Wealth Fund Qatari Diar has reportedly bought Singapore's iconic Raffles Hotel for US$275 million according to The National newspaper in the Middle East. The deal comes as part of a package which has seen the fund obtain 40% shareholding for US$467 in the Fairmont Raffles hotel chain.
Prince Alwaleed's Kingdom Hotel Investments has moved from a 58% controlling interest in the group to a 35% minority interest in the transaction. KHI owns the Moevenpick Resort in Karon and a few years ago sold its greenfield Raffles development in Tah Sai, Phang Nga to a group including Evolution Capital PCL who changed operator to Ritz-Carlton.
Much speculation remains regarding the management chain which brand stable includes Raffles, Fairmont and Swissotel.

Other News

Latest Phuket Property Trends and Data Insights

Category: Real estate|Tourism, Posted:19 Mar 2025 | 11:55 am As Phuket moves toward the end of its tourism high season in April and into the low season, Phuket property professionals are asking, “What’s next?”The pressure is on for Thai-listed developers from Bangkok to demonstrate income growth, as the Stock Exchange of Thailand (SET) continues to decelerate. Top Bangkok-based groups currently active in the Phuket […]

What is Being Thailand 2025?

Category: Hotels|Tourism, Posted:14 Mar 2025 | 13:58 pm Welcome to the exhilarating start of something new in the wellness space. Being Thailand 2025 is the first step in an ongoing series of events. It’s about elevating connections and being a place of inspiration. This unique B2B platform is about creating lasting bonds between wellness businesses, services, products, and entrepreneurs. From its core mission […]

C9 Hotelworks Releases Bangkok Serviced Apartment Market Update

Category: Hotels|Tourism, Posted:08 Mar 2025 | 09:17 am According to C9 Hotelworks new Bangkok Serviced Apartment Market Update 2025 report, operators are seeing a surge in short-term demand, despite a rising influx of expatriates. Bangkok’s serviced apartment market has expanded at a 6.2% compound annual growth rate (CAGR) over the past decade, driven by the expansion of international brands such as The Ascott […]

More Insider News