Singapore’s largest Mercure hotel to open on Club Street in 1Q2024
Worldwide Hotels went to the top of eight bids got and was bought for $562.2 million or $2,148.5 psf per plot ratio. The breakeven cost back then was determined to be $800,000 per key.
Accor, the largest global hospitality team in Asia Pacific, Africa and the Middle East, has already acknowledged a transaction with Singapore’s biggest hotel broker, Worldwide Hotels Group, to establish the largest Mercure Hotel, the 989-key Mercure Icon Singapore City Center, in 1Q2024.
“Found in among the most developing communities in Singapore, and with a riches of first-rate exceptional expertises, the resort demonstrates our mutual dedication to providing real hospitality expertises,” said Garth Simmons, COO for Accor’s premium, midscale and economy branch in Asia.
Accor and Worldwide Hotels Group acknowledged a contract 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 hotel is closely linked to two MRT stations, the Telok Ayer MRT Terminal on the Downtown Line and the Chinatown Station, an Interchange for the Northeast and Downtown Lines.
The hotel stands at 8 Club Street on a past public carpark spot, in which Worldwide Hotels acquired in a public land deal tender in January 2019.
“We are excited to broaden our working relationship with Accor, a strong associate,” mentioned Worldwide Hotels Group CEO Carolyn Choo.
Mercure Icon Singapore City Center has a wide variety of dining choices, an all-day eating restaurant, a lounge and bar idea, with tables furnished with power sockets for doing work. A landscaped pool patio and indoor fitness center are designed to invigorate the body and mind. The hotel is going to additionally include vehicle lots with EV battery chargers.
