Luxury hotel chains expanding

It 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.