Park Hotel Group has agreed to sell Park Hotel Clarke Quay to Ascendas Hospitality Trust for S$300 million. The hotel is located in the Clarke Quay area, started operations in 2009. The hotel has 336 guest rooms and suites. Source : Channel NewsAsia – 8 Apr...
Hotel
The Pines club on Stevens Road is expected to make way soon for a new 735-room hotel housed in two eight-storey blocks, as well as a couple of two-storey commercial buildings, people familiar with the matter told TODAY, following the sale of the property to “shoebox apartment king” Ching Chiat Kwong of Oxley Holdings for S$318 million. A four-storey clubhouse with a basement will replace the existing...
The number of hotel rooms in Singapore is expected is to grow by more than 20 percent to about 53,000 rooms by 2015. This is according to a research report by property consultancy Knight Frank. It says mid-tier hotels like Dorsett Regency Hotel, Ramada Singapore, and Changi Cove Hotel, will form almost half of the total future supply. With an influx of new rooms in the market over the next two years,...
Despite the regional economic uncertainty, the Pan Pacific Hotels Group is betting that Singapore's tourism and hospitality industry will remain robust this year, with big expansion plans after a period of relative quiet. The newest addition to the group's Singapore portfolio, the upper upscale Parkroyal on Pickering hotel opens its doors today after about four years of construction. While it will likely...
Budget hotels in Singapore are outpacing their five-star counterparts by a number of measures. They are being built at a greater pace, and they are also fuller. More are in the pipeline for 2013 and 2014, as demand for budget travel continues to grow. And with new attractions like the Marine Life Park at Resorts World Sentosa to attract visitors, industry players see positive outlook for the...
The Urban Redevelopment Authority (URA) has released the detailed sales conditions for the hotel site at Victoria Street/Ophir Road today. The land parcel at Victoria Street/Ophir Road is made available for application under the Reserve List of the 2nd half 2012 Government Land Sales (GLS) Programme. The land parcel is located near to the Ophir-Rochor Corridor, a new growth area envisioned to become an...
Far East Orchard - a unit of Far East Organization, Singapore's largest privately held developer by assets - said on Monday it planned to buy Straits Trading Co's hospitality management business and stakes in the company's hotel assets, Dow Jones Newswires reported. Far East Orchard said it signed a non-binding memorandum of understanding with Straits Trading for the proposal, which also involves...
The Urban Redevelopment Authority (URA) has awarded the tender for the hotel site at Jurong Town Hall Road to Tamerton Pte. Ltd. The firm submitted the highest bid of S$238.2 million, which translates to S$12,565.28 per square metre of gross floor area. Tender for the hotel site was launched on 19 September 2012 and closed on 20 November 2012. The land parcel was offered for sale on a 99-year lease term....
The tender for a hotel site at Jurong Town Hall Road has attracted 11 bids. According to the Urban Redevelopment Authority (URA), the top bid was submitted by Tamerton Pte Ltd, a subsidiary of Genting Singapore. The firm had put in a bid of S$238.2 million, which translates to S$12,565.28 per square metre of gross floor area. The other ten bids lodged range from S$204.8 million to S$128.7...
A Singapore court has upheld the right of an Australian-owned hotel to use the Park Regis brand in the city state, throwing out a ban sought by the St. Regis chain, court documents showed on Tuesday. St. Regis, a luxury brand under the US-based Starwood group of hotels and resorts, had applied to Singapore's Registrar of Trade Marks to stop Park Regis from getting its trademark in the city. But the Park...