Raffles Hotel to be sold to Qatari Diar for $275m

The historic Raffles Hotel in Singapore, famed for its colonial grandeur and the Singapore Sling cocktail, is to change hands in a deal worth $275 million (£180 million).


The luxury 103-room hotel, a favourite watering hole of literary figures including Somerset Maugham and Rudyard Kipling, looks set to be acquired from Fairmont Raffles Hotels International by Qatari Diar, part of the state-controlled sovereign wealth fund, the Qatar Investment Authority.

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What happened to Raffles n the BVI?

More than two years ago, developers announced plans to turn the Lambert Beach Resort into a $200-$250 million, five-star establishment. Today, ground has yet to be broken on the project, and the resort’s future is murky. But there are at least two possible scenarios.


A pending partnership with developer Mark Vanterpool and the mega-resort conglomerate Raffles could transform the resort into the proposed establishment; or the land could be auctioned off in whole to the highest bidder.

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Raffles Hotel Put On Market As Prince Alwaleed Attempts To Stop Wealth Draining Away