Jan. 14 (Bloomberg) -- Qatar National Hotels Co. said it has taken over the Raffles Hotel Singapore and Le Royal Monceau Raffles hotel in Paris, without disclosing how much it paid.
“Adding these iconic properties to our portfolio represents consistent steps of QNH’s strategic expansion at the international level,” Chief Executive Officer Hamad Abdulla Al Mulla said in a statement posted on the company’s website.
Opened in 1887, the 103-suite Raffles Hotel Singapore was designated a National Monument when it turned 100 years old, QNH said in the statement. Le Royal Monceau opened in 1928. Toronto-based Fairmont Raffles Hotels International is the previous owner of both properties.
Qatar National owns hotels in Doha and Egypt and has partnerships with companies including Ritz Carlton Hotel Co. and Marriott International Inc.
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