Hotels

Singapore’s hotel room rates are expected to rise by 2 per cent in 2020, following “significant” investments into the travel market, according to data from American Express Global Business Travel (GBT) on Friday. Such investments, which includes the multibillion dollar expansions of Changi Airport and Resorts World Sentosa, are expected to increase tourism and the meetings, incentives,...

Singapore-listed real estate firm City Developments Ltd (CDL) announced on Friday (Jun 7) another attempt to buy Britain's Millennium & Copthorne (M&C) Hotels, this time for £2.23 billion (S$3.9 billion). The offer represents a premium of about 37 per cent to M&C's closing price of 500 pence on Thursday. Currently, CDL owns approximately 65.2 per cent of M&C. This offer is final and will not be...

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...

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...

Crowne Plaza Surfers Paradise in Australia has been put on the market by its owners - a Singaporean family - for more than A$100 million, said marketing agent CBRE Hotels. Standing on a 1.2-hectare site, the resort complex comprises the 269-room Crowne Plaza Hotel currently operated by IHG, management rights for the 104-room Gold Tower, retail space, a tavern, 15 function venues and multiple food and...

Ascendas Hospitality Trust has on June 15 entered into an agreement with ES-CON Japan via Ascendas Hospitality Real Estate Investment Trust (A-HReit) to acquire three hotels in Japan’s Osaka city for a purchase consideration of 10.29 billion Japanese yen (S$126.1 million). The manager of the hospitality trust said that the acquisition of the three hotels, Hotel WBF Kitasemba West, Hotel WBF Kitasemba...

Oasia Hotel Downtown in Singapore's Tanjong Pagar has been named this year's Best Tall Building Worldwide by the Council on Tall Buildings and Urban Habitat (CTBUH), a global authority on tall buildings and future cities that confers the award annually. The 27-storey skyscraper by developer Far East Organization and designed by award-winning architecture firm Woha features a plant-covered facade of red...

EL Development has signed a memorandum of understanding with Accor for the French hotel chain to manage a new hotel that the Singapore property developer will build in Hill Street. Accor will manage the hotel under its Pullman brand - this will be the first Pullman in Singapore, EL Development managing director Lim Yew Soon told The Business Times in a recent interview. "Singapore is one of the major...

French multinational company AccorHotels will be investing S$24 million into Singapore-based hospitality brand Banyan Tree Holdings, the latter said in a press release on Thursday (Dec 8). Under the long-term partnership, both parties intend to work together to develop and manage Banyan Tree branded hotels around the world. Banyan Tree will also have access to AccorHotels’ global reservations and...

AccorHotels said on Wednesday it had entered exclusive talks to buy concierge service provider John Paul, as it pushes further into new hospitality services and beefs up its response to the challenges of Airbnb. Under the terms of the deal, AccorHotels - the world's fifth-largest hotel group - will acquire 80 percent of John Paul for about US$150 million in equity and debt, with the company's chief...