Raffles Holdings was the parent company of Raffles International. It is owned by

Temasek Holdings Temasek Holdings (Private) Limited, or simply Temasek, is a Singaporean state holding company owned by the Government of Singapore. Incorporated on 25 June 1974, Temasek owns and manages a total of US$496.59 billion (S$671 billion) in assets u ...

which is the investment arm of the

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bor ...

government. In 2005, Raffles Holdings'

hotel A hotel is an establishment that provides paid lodging on a short-term basis. Facilities provided inside a hotel room may range from a modest-quality mattress in a small room to large suites with bigger, higher-quality beds, a dresser, a re ...

business ranked 17th or 18th in the world in terms of market capitalization and number of rooms, all marketed under the Raffles and

Swissôtel Swissôtel Hotels & Resorts, commonly known as Swissôtel, is a Swiss chain of luxury hotels which operates 37 properties in 17 countries. The chain is owned by Accor, which acquired FRHI Hotels & Resorts in 2015. The corporate offices for Swi ...

brand names.

History

The company was incorporated on 26 August 1995. On 18 July 2005, Raffles Holdings announced its sale to

Colony Capital, LLC DigitalBridge Group, Inc. is a global digital infrastructure investment firm. The company owns, invests in and operates businesses such as cell towers, data centers, fiber, small cells, and edge infrastructure. Headquartered in Boca Raton, Digita ...

for about US$1 billion, including outstanding debt. The deal, worth 1.72 billion Singapore dollars, includes all 41 hotels and resorts. Its most prominent establishment is the luxurious 103-suite

Raffles Hotel Raffles Hotel is a British colonial-style luxury hotel in Singapore. It was established by Armenian hoteliers, the Sarkies Brothers, in 1887. The hotel was named after British statesman Sir Thomas Stamford Raffles, the founder of modern S ...

in Singapore, built in 1887. CapitaLand Ltd., Southeast Asia's largest property developer that owned 59.7 percent of Raffles Holdings, would gain the equivalent of US$362 million from the sale and plans to pay shareholders a special dividend of 23 U.S. cents a share. The cash price for the hotels is 1.45 billion Singapore dollars, or US$859 million.

References

{{Reflist Hospitality companies of Singapore Hotel chains in Singapore Hospitality companies established in 1995 Singaporean brands