Qatar Acquires Two Raffles Hotels

Government-owned Qatar Nationals Hotels Company (QNH) said that it has taken over the ownership of two high-profile Raffles properties -Raffles Hotel Singapore and Le Royal Monceau in Paris.

Opened in 1887, the 103-suite Raffles Hotel Singapore was the first hotel to operate under Raffles Hotels & Resorts, and was also declared a National Monument during its 100th anniversary.

Le Royal Monceau – Raffles Paris began in 1928, and was recently renovated by French designer Philippe Starck.

“Adding these iconic properties to our portfolio represents consistent steps of QNH’s strategic expansion at the international level,” Hamad Abdulla Al Mulla, CEO of QNH said in a statement. “Through years of rich history, Raffles Hotel Singapore and Le Royal Monceau – Raffles Paris have become legendary legacies that enhance the hospitality values by building a bridge between tradition and a glorious future,” he added.

QNH bought the properties from Toronto-based Fairmont Raffles Hotels International, but did not disclose how much it paid for them.

The Qatari group currently owns hotels in Doha, Egypt, Italy and Morocco, and has partnerships with Ritz-Carlton, Marriott, Sheraton Hotels & Resorts, Renaissance Hotels, and Movenpick Hotels & Resorts.