Marriott International is close to winning a bidding war for Starwood Hotels & Resorts that would create the global hotel leader, trumping an offer from China's Anbang. Marriott improved its November cash-and-stock offer for Starwood by more than US$1 billion, to US$13.6 billion, in an amended deal approved by their respective boards of directors, the companies announced in a joint statement on Monday...
Hotel
GuocoLand Limited has inked a pact with AccorHotels to manage the two new hotels in its mixed-use developments in Singapore and Malaysia. The 222-room Sofitel Singapore City Centre will be part of the group's upcoming Tanjong Pagar Centre while the 312-room Sofitel Kuala Lumpur Damansara will be part of the group's Damansara City in Kuala Lumpur. The Singapore-listed developer had originally named...
There is a new hotelier in town and Mr Satinder Garcha, who is ranked 48th on the Forbes' Singapore rich list, plans to shake up the luxury boutique hotel sector in Singapore. Mr Garcha made his money in the new economy, in Silicon Valley, before moving on to develop luxury landed homes in Singapore such as The Green Collection in Sentosa Cove. A 1950s Art Deco building on Syed Alwi Road once housed...
Europe's largest hotel operator, Accor, has agreed to a deal to buy FRHI Holdings - the company that owns hotel brands Fairmont, Swissotel and Raffles - in a deal worth about US$2.9 billion (S$4.1 billion) in cash and shares. FRHI is jointly owned by the Qatar Investment Authority (QIA), Kingdom Holding Company of Saudi Arabia and Oxford Properties, the real estate division of the Ontario Municipal...
Capsule hotels, which typically feature single beds housed in tiny pods stacked on top of one another, are growing more popular around the world. In Singapore, new capsule hotels are set to open in Orchard Road and at the airport. First started in Japan in the 1970s to offer basic accommodation to tired businessmen, the idea has been adopted and adapted elsewhere. The Pod, a boutique capsule hotel...
The BIG Hotel at Middle Road has been sold to a Hong Kong-based real estate investment group for S$203 million, property services firm JLL said on Wednesday (Nov 18). Originally an office building, the 308-room BIG hotel was converted by ERC Unicampus, and it opened in 2013. Facilities include a restaurant, bar, gym, car park and convenience store. JLL advised ERC Unicampus on the sale. The new owner...
Starwood Hotels & Resorts Worldwide will introduce its Four Points brand in Singapore with the Keck Seng Group via the Four Points Singapore, Riverview which will open by end of next year. The hotel will see a S$25 million rebranding and renovation of the former Riverview Hotel on 382 Havelock Road, which is located along the Singapore River. "The signing of Four Points Singapore, Riverview...
Midscale and economy hotels in Singapore performed better than their luxury counterparts in the first six months of 2015, reversing the trend seen in previous quarters, property services firm CBRE said in a report on Wednesday (Aug 12). This is because tourists from the region had become more price-sensitive in light of the Singapore dollar's appreciation against currencies like the ringgit and...
Boutique hotels in the Republic are gearing up for a growing group of travellers that are seeking unconventional experiences. Such hotels tend to be more exclusive, intimate, and unique than major chain hotels, and they are seeing demand from millennials who seek differentiation and the thrill of discovering something distinctive. One such boutique hotel is Naumi, which is designed to feel like a...
On Jun 17, hotel chain Frasers Hospitality bought a British boutique hotel operator – the Malmaison Hotel du Vin group – for S$760 million. Its Chief Executive Choe Peng Sum said this purchase will not be a one-off affair. Channel NewsAsia sat down with Mr Choe to find out more. Q: The acquisition of the Malmaison Hotel du Vin group of boutique hotels is your company's largest to date. What sort...