Qatar National Hotel Takes Over Two Iconic Raffles Properties

Doha, January 14 (QNA) - Qatar National Hotel Company says 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 Saturday that 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, Raffles Hotel Singapore is the flagship property of Raffles portfolio, being the first hotel to operate under the Raffles Hotels & Resorts. Named after the founder of modern Singapore, the hotel carries more than a century of glorious history having been host to world renowned artists, celebrities and royalties who visited this multicultural melting pot. Opened in 1887, the hotel was declared a National Monument on the occasion of its 100th anniversary. After three years of extensive restoration works, Raffles Hotel Singapore reopened in 1991. (QNA)