Raffles International changes hands

Raffles International Limited has announced a change in its ownership from Raffles Holdings Limited to Colony Capital, LLC. This change follows the successful completion of the sale by Raffles Holdings of its hotel business to the firm. Colony Capital, LLC, which now holds 100% direct equity interest in Raffles International Limited, is a private international investment firm controlled by global investor Thomas J. Barrack, Jr.. Since 1991, Colony Capital has invested in over 8,000 assets through various corporate, portfolio and complex property transactions. Grant L. Kelley, CEO of Colony Capital Asia Limited, said: "We are very pleased that the completion of transaction has proceeded smoothly and successfully. We will build upon the existing strengths of Raffles International and leverage on the resources, networks, products and talented employees which we have, to be a major world-class hospitality organization that can serve increasingly sophisticated customer needs. I am confident that Raffles International's dedicated management team and highly experienced employees will continue to deliver the standards of excellence that have become synonymous with the Raffles and Swissôtel brand of hotels around the world." Ms Jennie Chua, President & CEO of Raffles Holdings said, "I am glad that the transaction, which is part of Raffles Holdings' continuing efforts to create and unlock shareholders' value, is successfully completed. Going forward, the Hotel Business and its people will complement and add value to Colony Capital's established hospitality portfolio." The network of 41 hotels and resorts, managed under Raffles International's two brands, are situated in 35 destinations across Asia, Australia, Europe, Mediterranean, Middle East, North and South America. Raffles Hotels & Resorts is a collection of 15 luxury hotels. Swissôtel Hotels & Resorts is a distinctive group of 26 deluxe hotels. Located in gateway destinations and city centres, the hotels offer convenient access to business and shopping districts and local attractions.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
Neon gets new deputy MD from Clive

Neon gets new deputy MD from Clive

Dublin-based event agency is repositioning itself to produce more live and digital experiences.

‘I was feeling like a tortoise in quicksand’

‘I was feeling like a tortoise in quicksand’

Pico's Caroline Bee recounts her first experiences of organising events in the Middle East.

8 rules for being a great leader during lockdown

8 rules for being a great leader during lockdown

Shelton Fleming’s strategy director says leaders will emerge during the pandemic and help businesses remain fighting fit.

LIVE UPDATES: World Athletics Championships moved to avoid Olympics clash

LIVE UPDATES: World Athletics Championships moved to avoid Olympics clash

All the latest postponements and cancellations as the world deals with the coronavirus pandemic.

How Worldspan is keeping its team connected during a crisis

How Worldspan is keeping its team connected during a crisis

'It's critical to have regular, honest communication with the whole team,' says event agency's MD Sophie Morris.

Our view: I watched a car-crash webinar

Our view: I watched a car-crash webinar

C&IT’s senior reporter Ellie Kahn prays that online events quickly improve during the lockdown.

'Indefinite' travel ban leaves planners with more questions

'Indefinite' travel ban leaves planners with more questions

As the Foreign & Commonwealth Office updates its advice against all non-essential travel, can planners make any forward bookings at all?

Insurance company rejects agency’s coronavirus claim

Insurance company rejects agency’s coronavirus claim

Creative communications agency had taken out specific coverage for ‘human contagion disease’ in the lead up to the coronavirus pandemic.

Case study: Genesis launches luxury electric car Mint Concept

Case study: Genesis launches luxury electric car Mint Concept

INVNT's car launch event included a runway show, live music and dancing at a brand new venue in New York.

9 ways to improve your virtual meetings

9 ways to improve your virtual meetings

Dan Walker from Ashfield Meetings & Events has compiled a checklist to ensure your video calls run smoothly.