As they say in France, c'est la vie.
Fairmont, Raffles, Swissotel, Ibis and Sofitel will soon be in the same family as Paris-based Accor SA is set to purchase FRHI Holdings for 46.7-million shares and US$840-million in cash.
FRHI — the owner of the luxury Raffles, Fairmont and Swissotel brands — is jointly owned by the Qatar Investment Authority, Kingdom Holding Company and Oxford Properties.
Apart from those three luxury brands, FRHI also has other brands like The Plaza Hotel in New York and the Savoy in London, reports Today.
The last time Raffles Hotel was in Singaporean hands was before Raffles Holdings was purchased by California-based Colony Capital LLC in 2005.
As they say in France, c'est la vie.
Fairmont, Raffles, Swissotel, Ibis and Sofitel will soon be in the same family as Paris-based Accor SA is set to purchase FRHI Holdings for 46.7-million shares and US$840-million in cash.
FRHI — the owner of the luxury Raffles, Fairmont and Swissotel brands — is jointly owned by the Qatar Investment Authority, Kingdom Holding Company and Oxford Properties.
Apart from those three luxury brands, FRHI also has other brands like The Plaza Hotel in New York and the Savoy in London, reports Today.
The last time Raffles Hotel was in Singaporean hands was before Raffles Holdings was purchased by California-based Colony Capital LLC in 2005.