It looks like they do have a reward program called "Raffles Capital" There are a number of benefits but they don't publish how many room nights are needed. It is dependent on each situation from what I read and they may change from time to time. Intersting way to run a program in my opinion. However, I was unable to cut paste here but it is available at the raffles site.
Some other features:
- Guaranteed Room availability within 48 hours
- Guaranteed room upgrade to next available category
- Surprise Gifts for special occassions
- Complimentary Breakfast
- Complimentary Pressing
- Complimentary non-alcoholic drinks from Resident's bar
- Complimentary head and shoulders massage from Raffles Amrita Spa
- Complimentary stay at any Raffles resort worldwide once a year plus an individually selected gift
These are just some highlights but once again no information on how many stays it takes and there only appears to be one level.