"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," said Hamad Abdulla Al Mulla, CEO of QNH.
Named after the founder of modern Singapore, the hotel carries more than a century of history. Opened in 1887, the 103-key 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 and today it stands as a jewel in the crown of Singapore's hospitality industry.
Le Royal Monceau - Raffles Paris is the European flagship of Raffles Hotels & Resorts. After two years of renovation, the hotel reopened in October 2010.
The deal marks the latest in a series of investments in overseas assets by Qatari buyers.
ORIGINAL SOURCE
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