Hotel group Fairmont Raffles Holdings is reportedly seeking to raise up to US$2,5bn (£1.4bn, 1.9bn euro) through asset disposals.

Fairmont Raffles is controlled by Saudi billionaire HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud and was created in January this year following the US$5.5bn (£3bn, 4.5bn euro) merger of Canada-based Fairmont Hotels & Resorts and Singapore-based Raffles Hotel.

According to The Times, the company has drawn up a sale list of around 15 properties, including the Fairmont Banff Springs in the Rocky Mountains, US and the Fairmont Acapulco Princess in Mexico.

Fairmont Raffles has also confirmed it has appointed agents to sell six of the hotels, most of which are based in the US.

The company is reportedly looking to retain long-term operating contracts under a sale and manage-back arrangement.

A spokesperson told The Times: “We’ll only entertain offers from buyers who recognise the value of these landmark hotels, are committed to building on their success and will retain Fairmont as a long-term manager.”

According to analysts, the asset disposal could allow Prince Alwaleed’s Kingdom Hotels International and Colony Capital to repay a large part of the debut accrued to fund the Fairmont Raffles acquisition.

However, the spokesperson said the disposals were “part of a continuing strategy of redeploying capital to fund growth and acquire new management contracts”.