Luxury hotel chains expanding

Prince Alwaleed bin TalalIt has emerged today that Saudi billionaire Prince Alwaleed bin Talal and Colony Capital will pay $3.9 billion to buy Fairmont Hotels & Resorts Inc. in order to  expand  upon an  international luxury chain. Last year, Colony Capital bought the hotel business of Raffles Holdings for $859 million, gaining several historic hotels in Asia including Singapore’s landmark Raffles Hotel, Cambodia’s Raffles Grand Hotel d’Angkor in Siem Reap, and the Swissotel brand. Alwaleed’s hotel-related investments already  include the Four Seasons Hotels and Resorts, the George V Hotel and Movenpick Hotels & Resorts.

Leave a Reply



Your actual name, not your online persona, website name, company name or keywords, otherwise your comment won't be published





Please do not advertise and make sure your comment adds value, otherwise we regret that it won't be published. Links are not allowed here - if you would like to advertise, please contact us for details.

If you want a picture to show with your comment, go get a Gravatar.

Our readers also enjoyed these posts…