Qatari firm purchases Raffles Hotel Singapore
Source: Agencies |
January 15, 2012, Sunday
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Print Edition
Print Edition
A QATAR-OWNED company said it has taken over the famous Raffles Hotel Singapore and an affiliated luxury hotel in Paris in the latest high-profile acquisitions by the energy-rich Gulf state.
The Qatar National Hotels Co said yesterday it recently took ownership of the 125-year-old Raffles Hotel Singapore and Le Royal Monceau Raffles hotel in Paris. It did not disclose financial terms in the deal with Toronto-based Fairmont Raffles Hotels International, which had owned both hotels. State-owned Qatari companies have been snapping up investments at a brisk pace in recent months, including stakes in European energy companies and majority ownership in the French football team Paris Saint-Germain.
The Qatar National Hotels Co said yesterday it recently took ownership of the 125-year-old Raffles Hotel Singapore and Le Royal Monceau Raffles hotel in Paris. It did not disclose financial terms in the deal with Toronto-based Fairmont Raffles Hotels International, which had owned both hotels. State-owned Qatari companies have been snapping up investments at a brisk pace in recent months, including stakes in European energy companies and majority ownership in the French football team Paris Saint-Germain.
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