Oasia Hotel comes under Far East Hospitality Trust, Singapore's largest hotels and serviced residences operator. For the first quarter of 2015, the trust posted a 17.7 per cent drop year-on-year, in distribution per stapled security. It came in at 1.07 Singapore cents for the first quarter ended March. That is on the back of a 10.8 per cent fall in gross revenue, to S$27.37 million. Analysts Channel...
Hotel
Property developer Frasers Centrepoint (FCL) will build a 16-storey hotel at China Square Central following an agreement that will see the developer pay Frasers Commercial Trust (FCOT) around S$44.8 million, FCOT announced on Monday (Apr 27). The hotel, with a gross floor area of 16,000 square metres and located near Cross Street, will be operated by Frasers Hospitality under the "Capri by Fraser"...
Genting Hotel Jurong is the latest among hotels that are sprouting up away from the city centre. While they are situated away from the tourist belt, analysts have said that these suburban hotels could appeal to a certain market segment, and build up their own clientele. Genting Hotel Jurong plans to open in phases, starting from Apr 30 until end-May. The 15-storey hotel at Jurong East has 557 rooms,...
Catalist-listed Keong Hong Holdings on Thursday (Apr 16) said it has appointed French hotel giant Accor to manage its first two hotels in the Maldives. The two hotels are being developed by Pristine Islands Investments, a joint venture between Keong Hong Construction (a wholly-owned subsidiary of Keong Hong Holdings) and its partners. Accor will provide the full spectrum of hotel management services,...
The Republic has dropped to 11th position in a cost comparison report of hotel room service items and a one night stay in a four-star hotel, according to the third annual TripIndex Room Service Report. It was in 9th position last year. The annual report takes into account the cost of a club sandwich ordered through room service, the dry cleaning of one shirt as well as refreshments from the mini bar,...
Property developer M+S has roped in hotel operator Hyatt to operate a hotel in its upcoming DUO development. A management agreement was signed on Tuesday (Jan 27), under which Hyatt will launch its Andaz brand in Singapore. M+S is a joint venture between Singapore's Temasek Holdings and Malaysia's Khazanah Nasional. Expected to open in 2017, Andaz Singapore will be a boutique lifestyle concept...
The overall outlook for the hotel sector in the Republic this year appears positive, according to the latest report by real estate services firm Cushman & Wakefield. After a challenging year in 2014 when hotel occupancy rates fell, Cushman & Wakefield said it expects demand to recover in the short term. Geopolitical tensions in the region and a spate of aviation incidents last year dampened the...
Hotels here have seen their growth affected by regional geopolitics and negative reactions to aviation incidents, property consultancy Cushman & Wakefield said on Monday (Jan 5). In its latest report on the outlook of the hotel industry across Asia, Cushman & Wakefield said hotel occupancy in Singapore is expected to have fallen to 84.3 per cent in 2014, down from 86 per cent the previous year, due to a...
OUE Hospitality Trust (OUE H-Trust), which owns Mandarin Orchard Singapore and the adjoining Mandarin Gallery, will buy Crowne Plaza Changi Airport and the Crowne Plaza Changi Airport Extension for a total of S$495 million. It said on Friday (Nov 28) that conditional agreements have been made to acquire Crowne Plaza Changi Airport for S$290 million, as well as the extension for another S$205 million...
InterContinental Hotels Group, owner of the Holiday Inn and Crowne Plaza brands, is seeking at least US$1 billion (S$1.29 billion) from the sale of a Hong Kong hotel, the Bloomberg news agency reported unidentified sources as saying. The UK company hired Jones Lang LaSalle to find a buyer for the InterContinental Hong Kong Hotel, the people said. It aims to complete the sale by...