Singapore’s largest Mercure hotel to open on Club Street in 1Q2024
Worldwide Hotels was at the best of 8 offers received and was purchased for $562.2 million or $2,148.5 psf per plot ratio. The breakeven price during that time was approximated to be $800,000 per key.
Accor and Worldwide Hotels Team authorized a contract for Novotel Singapore on Kitchener a month back. It’s a repositioning and rebranding of the former Parkroyal Kitchener Resort, which Worldwide Hotels purchased for $525 million in July.
“Situated in one of the most developing communities in Singapore, and with a riches of world-class remarkable expertises, the hotel shows our shared dedication to providing genuine hospitality knowledge,” stated Garth Simmons, COO for Accor’s superior, midscale and economy division in Asia.
Mercure Icon Singapore City Center has a wide variety of eating options, an all-day dining restaurant, a lounge and bar concept, with tables furnished with power sockets for working. A landscaped swimming pool deck and interior gym are developed to rejuvenate the body and mind. The hotel is going to also include car lots with EV chargers.
Accor, the largest global hospitality group in Asia Pacific, Africa and the Middle East, has already acknowledged an offer with Singapore’s largest hotels and resort broker, Worldwide Hotels Group, to open the most significant Mercure Hotel, the 989-key Mercure Icon Singapore City Centre, in 1Q2024.
“We are excited to increase our working partnership with Accor, a strong partner,” stated Worldwide Hotels Group CEO Carolyn Choo.
Mercure Icon Singapore City Centre is positioned between the historic Chinatown and the CBD. The hotel is closely connected to 2 MRT stations, the Telok Ayer MRT Station on the Downtown Line and the Chinatown Station, an Interchange for the Northeast and Downtown Lines.
The hotels and resort is located at 8 Club Street on a previous free carpark spot, which Worldwide Hotels purchased in a public land deal tender in January 2019.