Buy Low Don't SellHelen Chang
Kwek Leng Beng, head of Singapore-based CDL Hotels International, is on a quiet buying spree around the world. The company, which had just five hotels in 1989, has since amassed 53 hotels spanning 11 countries in Asia, North America, and Europe. In early September, Kwek purchased the Copthorne chain, with 16 hotels in Western Europe, from Aer Lingus for $337 million. A month earlier, CDL joined forces with Saudi Prince Alwaleed bin Talal bin Abdulaziz Alsaud to buy New York's famed Plaza Hotel from Donald Trump for $325 million.
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