Raffles set to lift portfolio

Raffles set to lift portfolio

RAFFLES International has announced plans to more than double its portfolio of hotels to 35 by the end of 2002.

The group, which is the hotel arm of the developers DBS Land, says it is planning an aggressive expansion trail in order to add value to the company which will eventually go public.

The group was established in 1997 and currently has its strongest presence in the Far East, operating the famous Raffles in Singapore as well as Hotel Le Royal in Phnom Penh, four-star Merchant Court branded properties in Shanghai, Singapore and Bangkok and a resort hotel, Grand Hotel d'Angkor, in Siem Reap.

The group has recently announced management and operation agreements with properties in Majorca and Berlin and will build properties in Bali and Bintan, Indonesia.

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