The Urban Redevelopment Authority (URA) will reject proposals to build new hotels, boarding houses and backpackers' hostels on sites that are not zoned for hotel use. In a circular to architects, engineers, developers, owners and tenants sent on Monday, the authority said this takes place with immediate effect. It said in recent years, it has received more applications for new hotels, boarding houses...
Hotel
Singapore's sovereign wealth fund has bought the Westin Tokyo hotel from Morgan Stanley and US-based Starwood Capital, the firms said Tuesday, in a deal reportedly worth about US$715 million. The 438-room hotel in Tokyo's Ebisu district will continue to be operated by Starwood Hotels and Resorts under the Westin brand, a joint statement said. The companies gave no financial terms for the purchase by GIC...