Singapore’s historic Raffles Hotel sold off

The stunning Raffles Hotel has become a part of Singapore’s history. A year ago Saudi multi-billionaire Prince Alwaleed Bin Talal was hoping to sell off this hotel as part of his great hotel sell-off. Around that time, the price was quoted as $450 million but apparently he was willing to settle for a lot less. The hotel was finally acquired by Qatari Diar investment fund in a deal worth $275 million.

The renowned hotel once housed the famous writer Somerset Maugham and its history goes way back to 1887! This is the hotel to which we owe the cocktail known as the Singapore Sling and has been a temporary abode for innumerable movie stars all these years.

The London Times has reported that the new owners plan to renovate the hotel and give a face-lift to the adjacent retail and leisure facilities. They will also be adding 78 new guest rooms. Fairmont Raffles will go on running the hotel. Fairmont Raffles was the outcome of the merger between the Fairmont and Raffles groups four years ago. This collaboration runs more than 100 hotels. Qatari Diar already owns Le Royal Monceau in Paris, set to reopen this year as part of the Raffles brand after the completion of its Philippe Starck-led renovations.

Via: Raffles

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