LONDON— According to its President and Chief Operating Officer Jennie Chua, Raffles International Hotels has the means to acquire another small- to medium-sized hotel chain as the company looks to double its size from an existing 13,000 rooms in 38 hotels worldwide, reported HVS International. To this end, the company has revealed a $200 million, four-year investment program focused on acquisitions in Paris and Italy. However, Chua added that expansion of its portfolio through management contracts, as opposed to acquisitions, was of greater importance. The company is keen to give greater exposure to its leading Raffles and Swissotel brands, having acquired the 23 hotels of the latter chain in April 2001 for euro 277.6 million (US$241.1 million). SOURCE: HVS International
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