Hotel Grand Chancellor in Little India sold for S$248m

The Hotel Grand Chancellor in Little India has been sold to an unnamed party for S$248 million, owner Hotel Grand Central Ltd said on Monday (June 30).

Hotel Grand Central said the buyer has paid a deposit of S$18.6 million for the 328-room 3-star hotel at Belilios Road, and the transaction is expected to be completed in January next year.

Hotel Grand Chancellor, which opened in 2010, was valued at S$201 million back in September 2012.

Source : Channel NewsAsia – 30 Jun 2014

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