CDL Hospitality Trusts (CDLHT) will sell Novotel Singapore Clarke Quay, part of a Liang Court site for redevelopment, for S$375.9 million and make an up-to-S$475 million forward purchase of a new hotel that will be part of the new integrated development. In a bourse filing on Thursday, CDLHT said it will also buy W Singapore hotel at Sentosa Cove for S$324 million. The 403-key Novotel hotel will be...
Novotel Clarke Quay
European hotel developer Accor opened a new hotel in Singapore on Thursday, and announced that it is starting work on another hotel to be launched in 2011. Despite the weak global economy and dwindling visitor arrivals here, Accor said it still has a positive long-term outlook on the Singapore tourism sector. The firm invested S$145 million into its latest property called Ibis Singapore on Bencoolen in...