Sovereign wealth fund Qatar Investment Authority, Doha, Qatar, has purchased a Raffles hotel in Paris and Singapore via its subsidiary Qatar National Hotels Co.
The company announced on Monday that it purchased the luxury Raffles Hotel Singapore and Le Royal Monceau – Raffles Paris for an undisclosed sum.
“Adding these iconic properties to our portfolio represents consistent steps of Qatar National Hotels’ strategic expansion at the international level,” said Hamad Abdulla Al Mulla, Qatar National Hotels CEO.