Singapore’s largest Mercure hotel to open on Club Street in 1Q2024
Accor and Worldwide Hotels Team signed an arrangement for Novotel Singapore on Kitchener a month earlier. It’s a repositioning and rebranding of the prior Parkroyal Kitchener Resort, which Worldwide Hotels acquired for $525 million in July.
Mercure Icon Singapore City Centre is arranged in between the historical Chinatown and the CBD. The property is directly connected to 2 MRT terminals, the Telok Ayer MRT Terminal on the Downtown Line and the Chinatown Terminal, an Interchange for the Northeast and Downtown Lines.
Worldwide Hotels reached the best of 8 offers got and was bought for $562.2 million or $2,148.5 psf per plot ratio. The breakeven cost at that time was determined to be $800,000 per key.
“Found in amongst the most occurring communities in Singapore, and by having a wealth of outstanding exceptional expertises, the hotel shows our shared determination to offering real hospitality experiences,” claimed Garth Simmons, COO for Accor’s superior, midscale and economy branch in Asia.
“We are excited to increase our working connection with Accor, a solid business partner,” mentioned Worldwide Hotels Group Chief Executive Officer Carolyn Choo.
Mercure Icon Singapore City Center has a wide range of dining choices, an all-day dining restaurant, a lounge and bar principle, with tables furnished with power outlets for working. A landscaped pool veranda and inside gym are created to rejuvenate the mind and body. The hotel will additionally feature vehicle lots with EV battery chargers.
Accor, the biggest global hospitality group in Asia Pacific, Africa and the Middle East, has recently acknowledged an offer with Singapore’s largest hotel broker, Worldwide Hotels Group, to launch the most significant Mercure Hotel, the 989-key Mercure Icon Singapore City Centre, in 1Q2024.
The hotels and resort stands at 8 Club Street on a former public carpark site, which Worldwide Hotels acquired in a public land sales event tender in January 2019.