Singaore's Raffles Hotel sold for $476 mln -paper

SINGAPORE, May 8 (Reuters) - Singapore's landmark Raffles Hotel, jointly owned by Saudi Prince Alwaleed bin Talal's Kingdom Hotels International and U.S. private equity firm Colony Capital, has been sold for about S$650 million ($476 million), a local newspaper reported on Thursday.

Colony bought the 121-year-old hotel, which comes with an adjoining shopping arcade, for about S$200 million in 2005 as part of a bigger S$1.7 billion acquisition of the Raffles Holdings hotel chain, the Business Times said.

It cited unnamed sources as saying a preliminary deal had been signed with an overseas buyer, a family trust probably linked to a European family. ($1=1.366 Singapore Dollar) (Reporting by Daryl Loo; Editing by Alan Raybould)