Posted on May 16, 2008 by lushhomeonline
Singapore hotel rates will continue to rise this year despite the slowing global economy due to a shortage of rooms, the head of the city state’s largest hotel operator said on Thursday.
‘Because of the sub-prime crisis, the higher-end … hotels have less ability to increase their rates. But we are still having a shortage,’ said [...]
Filed under: General, Hotel, Market Reports | Tagged: CDL, City Developments, Kwek Leng Beng, Singapore Hotel Outlook, Singapore Hotel Rates, Singapore Hotels | No Comments »
Posted on May 10, 2008 by lushhomeonline
Fairmont Raffles Hotel Int’l sells its stake in Raffles Hotel to ex-Credit Suisse banker
THE Grand Dame of Singapore will be getting a new master — yet again.
Fairmont Raffles Hotel International — controlled by Saudi Arabian billionaire Prince Alwaleed bin Talal and United States-based private-equity company Colony Capital — is selling its stake in the 120-year-old [...]
Filed under: General, Hotel | Tagged: Colony Capital, Fairmont Raffles Hotel International, Kingdom Hotels International, Mark Pawley, Prince Alwaleed bin Talal, Raffles Hotel | No Comments »
Posted on May 9, 2008 by lushhomeonline
THE Royal Peacock Hotel in Chinatown’s Keong Saik Road is likely to be sold soon - with a potential price tag of about $38 million.
The owners of the boutique hotel called for expressions of interest, which closed on Wednesday, after attracting at least five bidders.
The keen interest underlined rising interest in the hotel sector in [...]
Filed under: General, Hotel | Tagged: Boutique Hotel, Chinatown, Erskine Road, Hotel For Sale, Keong Saik Road, Royal Peacock Hotel, The Scarlet | No Comments »
Posted on May 9, 2008 by lushhomeonline
SINGAPORE-LISTED Hotel Properties Limited (HPL) has entered into a joint venture with a Libyan state-owned company to develop hotels and tourist resorts in Libya.
And the first project of its partnership with the Social Security Fund Investments Company (SSFI) is a US$30 million (S$41 million) project to refurbish a top hotel in the country.
The tie-up, on [...]
Filed under: General, Hotel, Overseas Property | Tagged: Hotel Development, Hotel Properties Ltd, HPL, Libya, Libya Hotels, Social Security Fund Investments Company | No Comments »
Posted on May 9, 2008 by lushhomeonline
Creation of JV with that country’s state pension fund manager is on cards
HOTEL Properties Ltd (HPL) has forged an agreement with Libya’s state pension fund manager to rebuild and refurbish hotels in the country, a deal achieved partly thanks to ‘middleman’ Philip Yeo.
Stephen Yeo, executive vice-president of HPL, said on Wednesday evening at a press [...]
Filed under: General, Hotel, Overseas Property | Tagged: Hexagon Development Advisors, Hotel Properties Ltd, Hotel Refurbishment, HPL, Libya, Libya Hotels, Philip Yeo, Social Security Fund Investments Company | No Comments »
Posted on May 9, 2008 by lushhomeonline
RAFFLES Hotel is being sold - as readers of BT were told yesterday. Under an in-principle agreement announced yesterday, Fairmont Raffles Hotels International (FRHI) will sell the iconic hotel to a consortium led by former Credit Suisse investment banker Mark Pawley.
‘Completion is expected to take place at the end of May 2008,’ FRHI added in [...]
Filed under: General, Hotel | Tagged: Colony Capital, Fairmont Hotels & Resorts, Fairmont Raffles Hotels International, Kingdom Hotels International, Mark Pawley, Oxley Capital Group, Prince Alwaleed bin Talal, Raffles Hotel | No Comments »
Posted on May 9, 2008 by lushhomeonline
Consortium led by banker may buy hotel and adjoining arcade for $650m
MYSTERY buyers are set to acquire the historic Raffles Hotel for more than treble the $200 million it sold for just three years ago.
The 121-year-old hotel and the adjoining shopping arcade are changing hands again after a consortium led by a Singapore-based banker agreed [...]
Filed under: General, Hotel | Tagged: Colony Capital, Fairmont Hotels & Resorts, Fairmont Raffles Hotels International, Mark Pawley, Oxley Capital Group, Prince Alwaleed bin Talal, Raffles Hotel | No Comments »
Posted on May 8, 2008 by lushhomeonline
Fairmont Raffles Hotels International said on Thursday that it will sell its stake in Singapore’s landmark Raffles Hotel to a consortium led by ex-Credit Suisse banker Mark Pawley.
Fairmont, which is controlled by Saudi Prince Alwaleed bin Talal and US private equity firm Colony Capital, did not disclose the selling price, although Singapore media said the [...]
Filed under: General, Hotel | Tagged: Colony Capital, Fairmont Raffles Hotels International, Kingdom Hotels International, Prince Alwaleed, Raffles Hotel | No Comments »
Posted on May 8, 2008 by lushhomeonline
Hotel Properties Limited (HPL) said the company and the Social Security Fund Investments Company (SSFI) have signed a memorandum of understanding to explore the formation of a joint venture company for the development of hospitality and tourism projects in Libya.
HPL said that with its superb Mediterranean climate, 1,800 kilometres of pristine coastline and desert attractions, [...]
Filed under: General, Hotel, Overseas Property | Tagged: Hotel Properties Limited, HPL, Libya, Social Security Fund Investments Company | No Comments »
Posted on May 8, 2008 by lushhomeonline
Preliminary deal for hotel, arcade said to be inked for about $650m
Raffles Hotel is believed to be changing hands again, along with its adjoining shopping arcade. The overseas buyer is understood to be a family trust, most likely linked to a European family.
BT understands that a preliminary deal has been inked for the sale and [...]
Filed under: General, Hotel | Tagged: Colony Capital, Fairmont Raffles Hotels International, Kingdom Hotels International, Prince Alwaleed, Raffles Hotel | No Comments »
