We still own Fairmont, Swissotel The Stamford hotel buildings, asserts CapitaLand

Despite the takeover by AccorHotels.

CapitaLand Commercial Trust and CapitaLand Mall Trust has clarified that the ownership structure of Fairmont and Swissotel The Stamford will not change following AccorHotel’s $4.1b acquisition of FRHI, which owns the Fairmont, Swissotel and Raffles hotel brands.

The two hotels, which are part of Raffles City Singapore are jointly owned by CapitaLand Commercial Trust (CCT) and CapitaLand Mall Trust (CMT) in the proportions of 60% and 40% respectively.

The two hotels and the convention centre are on a long term lease to RC Hotels, in which FRHI and CapitaLand Limited have a stake. The hotels, which operate under the brand names Fairmont Singapore and Swissôtel The Stamford, are managed by RC Hotels.

“The sale of FRHI to AccorHotels will not change the current ownership structure as the operations of the hotels will continue to be managed by RC Hotels, while the hotel buildings remain jointly owned by CCT and CMT,” CapitaLand said in a statement.

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