THE FRENCH GROUP ACCORHOTELS ACQUIRES THE RAFFLES HOTEL
AccorHotels acquired Fairmont Raffles Hotels International Holdings, meaning it now owns the renowned Raffles Hotel as well as the Singapore Fairmont and the Swissôtel The Stamford.
The acquisition, for a total of $ 2.9 billion, includes 155 hotels and resorts, among which the Manhattan Plaza and the Savoy in London.
AccorHotels, which manages the Ibis and Sofitel chain, is already the operator of Novotel Singapore Clarke Quay and Grand Mercure Singapore Roxy. The three hotels recently acquired by this contract, however, will be the first that the group own in Singapore.
With a total of 5700 rooms in Singapore, AccorHotels is now the first hotel operator in the country.