RAFFLES SOLD

Press, Volume CII, Issue 30133, 17 May 1963, Page 11

RAFFLES SOLD

Woman Buys Hotel tN.Z P.A.-Ruuter—Copyright) SINGAPORE, May 16. Raffles, one of the world's most famous hotels, was sold today for £166.500. The new owner is 37-year-old Madam Tthadiga Aisagoff. a member of one of Singapore's richest families, and a managing partner of a women's magazine in Cairo where she has lived since the age of 10. Madam Aisagoff bought the hotel from the trustees of the mulU-million-dollar estate of the late Syed Ahmed Bin Abdul Rahman Aisagoff. Her mother was one of the five beneficiaries of the estate

The hotel wdl continue under the management of Raffles Hotels, Ltd., for 32 year, when the 70-year lease wili expire Raffles, known to millions of tourists and readers of romantic fiction with an Eastern setting, was founded in 1888 by three brothers named Sakies. The brothers leased a converted bungalow from Syed Aisagoff, which they gradually expanded. Young Pilot’s Flight—Lord frefgarne, at 22 the youngest pllo* tn attempt the 12.000mile flight from England to Australia, landed at Nice last night in his single-engined aircraft. Lard Trefgarne and hi# co-pilot, Charles Masefield, an engineering graduate, left England yesterday morntag They will take off from Nice tomorrow morning and hope to reach Adelaide by July 22 —Nice, May 16.