Brief History
Started in 1989 to oversee the restoration of Raffles Hotel and the restructuring of Raffles City, the company reopened its flagship hotel on September 16, 1991.
The company purchased the Swissôtel chain in 2001, and took over the then Westin Stamford and Plaza as the contract expired at the end of the year. On January 1, 2002, the two hotels were renamed Swissôtel The Stamford and Raffles The Plaza respectively with a refurbished look.
Former owner, Raffles Holdings, announce the sale of the chain on July 18, 2005 to subsequent owner, Colony Capital from October 1, 2005. The sale included all its 41 hotels and resorts and also its hotels under development. This included the landmark Raffles Hotel Singapore, which is on a 100 year lease to Colony Capital. However, Raffles City was owned by Raffles Holdings under Tincel Properties Pte Ltd when it was sold, but was eventually sold to CapitaCommercial Trust and CapitaMall Trust in July 2006.
Read more about this topic: Fairmont Raffles Hotels International
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