Posted on October 14, 2016

The world-famous Raffles Hotel Singapore, owned by Qatar's Katara Hospitality, will close briefly from the end of next year for renovations.

The work will begin in January and will be carried out in phases, starting with the hotel's Long Bar, which created the signature drink Singapore Sling. The hotel said in a statement that it will close from late 2017 until the second quarter of 2018 for the final phase of its renovations. Its owner Katara Hospitality is reportedly raising $500 million in debt through a syndicated loan. The company, headquartered in Doha, has a portfolio of 34 properties in operation or under development, and plans to add 26 more by 2026, according to its website. Its properties are located in countries including Qatar, Egypt, Morocco, Britain, France, Germany, Singapore and Thailand.

source: Arabian Business

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