KINGDOM Holding, the investment company controlled by Saudi billionaire Prince Alwaleed bin Talal, said its Fairmont Raffles Hotels International unit has sold The Swissotel Merchant Court in Singapore. Bloomberg said yesterday the 476-room hotel was sold for US$153 million ($208 million), citing an emailed statement from Kingdom, which did not name the buyer. “The sale of this hotel is in line with...
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The Urban Redevelopment Authority (URA) has said it did not receive any bids for the hotel site at Race Course Road/Bukit Timah Road when the tender closed at noon on Wednesday. URA added that it will announce its plans for the site after a decision has been made. URA launched the hotel site for sale by public tender in February this year. It was one of the two hotel sites to be sold through the...
Fairmont Raffles Hotel Int'l sells its stake in Raffles Hotel to ex-Credit Suisse banker THE Grand Dame of Singapore will be getting a new master — yet again. Fairmont Raffles Hotel International — controlled by Saudi Arabian billionaire Prince Alwaleed bin Talal and United States-based private-equity company Colony Capital — is selling its stake in the 120-year-old Raffles...
Genting International has said it is no longer in talks with the Singapore Sports Hub Consortium to build a hotel in the Singapore Sports Hub. In a statement to the Singapore Exchange (SGX), Genting said the Singapore Sports Council has decided not to have a hotel in the hub "at this point in time". Genting added that the subject matter of this announcement is not expected to have any material impact on...
You may be familiar with the 121-year-old grand dame that is Raffles Hotel, but some surprises are in store at her offshoots in far-flung corners of the world. what you might not know ... • The Raffles Beijing will host the International Olympics Committee come the Games in August. It is, of course, fully booked. • The historic Le Royal Monceau in Paris will be closed for restoration works in June...
Iconic hotel group aims for 30 properties worldwide by 2012 When it was bought over by American owners in 2005, controversy erupted: How could you sell what was a historical icon and quintessentially Singaporean brand name, asked some. Today, the Raffles Hotel brand is spreading like wildfire to some far-flung corners of the world. Indeed, within the first 10 months of its acquisition, the Raffles family...
In the first half of this year, 12 sites will be made available for hotel development. National Development Minister Mah Bow Tan said these sites would potentially yield another 6,000 rooms which Singapore needs to meet growing demand. Mr Mah was speaking at the official opening of the six-star St Regis Singapore on Sunday, where 1,000 of Singapore's Who's Who attended the event. At St Regis, butler...
Construction of Singapore’s first Hard Rock Hotel which will be located at the upcoming Resorts World at Sentosa will begin in May. The 360-room hotel is one of six to be developed and fans and visitors will be grooving to it when the famous chain opens in 2010. Together, the hotels will provide 1,800 rooms but this might still not be enough. Elena Arabadjieva, Deputy Vice-President, Resort Marketing,...
A hotel site at Balestier Road has been launched for sale. The 1.77-hectare plot is one of two hotel sites on the Confirmed List of the Government Land Sales Programme for the first half of this year.But for the first time, the government has made developing a park a requirement as part of the tender. Balestier Road is buzzing with activity. And adding to it will be a new contemporary hotel which draws...
Balestier Road site will face Sun Yat Sen Memorial Hall IMAGINE a hotel development in the midst of a public park. Better still, one that blends in with the area’s heritage. That could soon be a reality following the Urban Redevelopment Authority’s (URA) launch of a land parcel for sale by tender off Balestier Road. The site, located across the Sun Yat Sen Nanyang Memorial Hall, will be nestled in...