The legendary Raffles Hotel in Singapore, has been acquired by Accor, as part of a deal worth A$4billion.
The acquisition – of the Fairmont, Raffles and Swissôtel brands – will also give Accor other high profile luxury hotels such as the Savoy in London, the Plaza in New York City and Shanghai’s Fairmont Peace Hotel.
In all, the mega-merger will add an additional 115 hotels – of which 40 are under development – and more than 56,000 rooms to the Accor network.
Accor says the integration of Raffles, Fairmont and Swissôtel will enable it to “optimize its luxury and upscale brands in order to adapt its offering to the expectations of an increasingly demanding clientele”.
Raffles Hotel is a colonial-style luxury hotel in Singapore, established in 1887.
The hotel was named after British statesman Sir Thomas Stamford Raffles, the founder of Singapore.
It’s said that during the Japanese occupation of Singapore in the Second World War, the hotel’s famous silverware was buried in the courtyard.