Singapore’s largest Mercure hotel to open on Club Street in 1Q2024
Accor, the largest global hospitality team in Asia Pacific, Africa and the Middle East, has already acknowledged an offer with Singapore’s biggest hotels and resort operator, Worldwide Hotels Group, to open the biggest Mercure Hotel, the 989-key Mercure Icon Singapore City Centre, in 1Q2024.
The hotels and resort is located at 8 Club Street on a previous common carpark location, which Worldwide Hotels bought in a public land sales event tender in January 2019.
Mercure Icon Singapore City Center is placed in between the historical Chinatown and the CBD. The hotel is closely linked 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 top of eight proposals received and was purchased for $562.2 million or $2,148.5 psf per plot ratio. The breakeven price at that time was approximated to get $800,000 per key.
“Located in amongst the most happening communities in Singapore, and by having a wealth of world-class extraordinary experiences, the resort displays our common dedication to supplying real hospitality expertises,” said Garth Simmons, COO for Accor’s premium, midscale and economy division in Asia.
“We are thrilled to expand our working connection with Accor, a solid business partner,” specified Worldwide Hotels Group CEO Carolyn Choo.
Accor and Worldwide Hotels Team signed an arrangement for Novotel Singapore on Kitchener a month ago. It’s a repositioning and rebranding of the previous Parkroyal Kitchener Resort, which Worldwide Hotels acquired for $525 million in July.
Mercure Icon Singapore City Center has a wide range of dining options, an all-day eating restaurant, a lobby and bar principle, with tables prepared with power sockets for working. A landscaped swimming pool deck and indoor health club are designed to revitalize the body and mind. The hotel is going to additionally feature vehicle lots with EV chargers.