Recolonizing Raffles

Orr, Deborah
September 2006
Forbes Asia;9/18/2006, Vol. 2 Issue 15, p90
The article focuses on the partnership between Colony Capital and Saudi Arabia Prince Alwaleed Bin Talal Alsaud to launch the Raffles Hotel in Asia. Grant Kelley, Asian head of Colony Capital, won the bid with the promise to retain the Raffles splendor and an offering price of $1 billion. Colony pulled this off with hardly a political ripple at a time when most private equity funds are finding a cold welcome for the billions of dollars they have piled up to invest in Asia.


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