Raffles Hotel sale off
A consortium led by former Credit Suisse banker Mark Pawley that was to have bought the grand dame has called the deal off, :The Business Times: (BT) reported on Friday.
“We regret to say that the sale will not be completed as planned,” a consortium spokeswoman was quoted as saying.
In another report, Bloomberg said the group has sold its other hotel in Singapore, The Swissotel Merchant Court.
The 476-room hotel was sold for US$153 million but a buyer was not named.
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