Hotel

Having initially called off the sale of its Mercure and Novotel Hotels on Wednesday, property developer Oxley Holdings announced on Thursday that it has appointed CBRE, Jones Lang LaSalle Property Consultants and JLL Hotels & Hospitality Group as its exclusive agents for the properties. The agents will be tasked with sourcing, marketing, evaluating, negotiating and securing a purchaser for the hotels on...

Claremont Hotel, a freehold eight-storey development along Serangoon Road, is back on the market for a second time with the seller eyeing offers in excess of S$70 million. The 90-room budget hotel, near the junction of Owen Road, was previously put up for sale back in July 2016 for S$90 million. The property occupies a land area of 4,838 square feet and an estimated gross floor area of 30,591 sq ft....

Yotelair, which is known for its creative cabins and smartbeds, will open its first Asian airport hotel at the newly built Jewel Changi on Apr 12. The brand is already present in five other airports, including London's Gatwick and Heathrow, Amsterdam's Schiphol, Paris' Charles de Gaulle and Istanbul. “We are tremendously excited to open our first Yotelair in Asia here in Singapore, and even more so...

State tenders for three sites closed on Tuesday, Jan 15, 2019. Based on provisional results released, a premium hotel site along Club Street in the Central Business District drew eight bids. The highest bid, from Midtown Development (which is part of the Worldwide Hotels Group that also includes Hotel 81), was S$562.2 million, which works out to S$2,148.50 per square foot per plot ratio (psf ppr). A...

Oxley Holdings has accepted a letter of intent (LOI) for the purchase of its Mercure and Novotel hotels along Stevens Road for S$950 million, in what market watchers call an urgent attempt by the developer to pare its debt. The Business Times understands that the buyer is Indonesian magnate Tahir. In a late announcement on Thursday, Oxley said the LOI is non-binding and subject to the parties...

THE next big disruptor in hospitality, according to Ian Schrager, is co-living spaces. "Communal living is blurring the distinction between residential and hotels," the hotelier and Studio 54 co-founder argued during Bloomberg's Year Ahead: Luxury conference in Manhattan last week . The mastermind behind the Public Hotel urged audiences to look at millennial buying statistics as evidence of this...

Fragrance Group, controlled by James Koh Wee Meng, is planning to develop hotels along Waterloo Street and in the Tanjong Pagar area. It plans to redevelop the 999-year leasehold Waterloo Apartments, which it has just been awarded through a S$131.1 million collective sale, into a hotel. The price it is paying works out to S$2,172 per square foot per plot ratio. In addition, Fragrance has applied to the...

Three hotels with 839 rooms in all will open on Sentosa from April next year, operator Far East Hospitality announced on Thursday (Oct 18). Two, Village Sentosa and The Outpost Hotel, will open in April 2019 while The Barracks hotel is set to open in August. The hotels, first announced last year, will target the mid-tier segment, such as families and young adults on staycation as well as business...

A Chinatown site slated for hotel use is up for grabs, with the Urban Redevelopment Authority (URA) launching the land parcel for sale by public tender from the government land sales (GLS) programme's confirmed list on Thursday. The 99-year leasehold, 5,121.4 square metre (55,130 square foot) site, at the junction of Cross Street and Club Street, has a maximum gross floor area of 24,310 sq m and could...

Wangz Hotel, the distinctive barrel-shaped aluminium-clad building at the corner of Outram and Tiong Bahru roads, is being sold for S$46 million. This works out to S$1.12 million per room for the six-storey freehold boutique 41-room hotel. It opened in late 2009. The hotel is being sold by Glastech Pte Ltd, controlled by Wang Kwang Yu, his wife Kwee Lee Chien (daughter of Pontiac Land Group founder...