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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.

Paul Johnson

Paul Johnson is Editor of A Luxury Travel Blog and has worked in the travel industry for more than 30 years. He is Winner of the Innovations in Travel ‘Best Travel Influencer’ Award from WIRED magazine. In addition to other awards, the blog has also been voted “one of the world’s best travel blogs” and “best for luxury” by The Daily Telegraph.

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