Fairmont Raffles Holding Intl.
KHC investments begin: 2006
Based: Toronto, Ontario, Canada
Awards & Medals
2012 - Savoy Hotel, Travel + Leisure, T+L 500 – The Best Hotels in the World
2007 - Condé Nast Traveler - Gold List
For additional awards and accolades:
Kingdom Holding Company has a substantial shareholding in Fairmont Raffles Holdings International, a global leader in luxury hotels with 130 properties in 27 countries.
KHC’s involvement dates back to a 1994 investment in what was then Fairmont Hotels Management. In 1996 HRH Prince Alwaleed joined Colony Capital LLC, an American private equity firm and owner of Raffles Hotels international, to take Fairmont private and combine it with Raffles in a transaction led by KHC.
The newly formed Fairmont Raffles organization was repositioned as a truly global manager of luxury hotel properties. KHC has assisted Fairmont Raffles in obtaining new high-value management contracts, including several with Kingdom Hotel Investments (KHI). Five of 18 KHI hotels are managed by Fairmont Raffles, as are 4 of 9 KHC stand-alone hotels including the Savoy in London and the Plaza in New York.
In 2010 management agreements were reached between Fairmont Raffles; Voyager Partners Ltd, wholly owned by the Qatari Government; and Qatari Diar Hotel & Property Investment Ltd, the principal real estate investment entity of the Qatari Government. Voyager acquired a 40% position in Fairmont Raffles, helping to assure Fairmont Raffles’ continued global growth.
Fairmont Raffles Holdings International operates the Fairmont, Raffles, and Swissôtel hospitality brands. It also manages KHC-owned stand-alone hotels including the Plaza in New York and the Savoy in London (see Hotel Real Estate). The Fairmont name dates to 1907 when sisters Tessie and Virginia Fair opened the original Fairmont Hotel in San Francisco, still renowned for unrivaled luxury.
Today, Fairmont Raffles Hotels International is a leading international operator of upscale hotels, with approximately 100 properties worldwide under the Fairmont, Raffles, and Swissôtel brands. The company also holds real estate interests, including vacation ownership resorts (Fairmont Heritage Place at San Francisco's Ghirardelli Square) and condominiums (Fairmont Residences).
Fairmont Raffles is pursuing the sale of real estate assets in order to develop its management business, particularly in underrepresented markets.