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 ago. It’s a repositioning and rebranding of the former Parkroyal Kitchener Resort, which Worldwide Hotels bought for $525 million in July.
Accor, the largest global hospitality team in Asia Pacific, Africa and the Middle East, has already authorized a transaction with Singapore’s largest hotel provider, Worldwide Hotels Group, to establish the most significant Mercure Hotel, the 989-key Mercure Icon Singapore City Centre, in 1Q2024.
The hotel rises at 8 Club Street on a former common carpark site, which Worldwide Hotels purchased in a public land sale tender in January 2019.
Mercure Icon Singapore City Centre is arranged between the historical Chinatown and the CBD. The hotel is closely connected to two MRT terminals, the Telok Ayer MRT Station on the Downtown Line and the Chinatown Station, an Interchange for the Northeast and Downtown Lines.
Mercure Icon Singapore City Centre has a wide range of eating choices, an all-day dining restaurant, a lounge and bar concept, with tables equipped with power outlets for doing work. A landscaped pool deck and indoor fitness center are developed to renew the mind and body. The hotel is going to additionally provide vehicle lots with EV chargers.
“Situated in amongst one of the most happening communities in Singapore, and by having a wealth of first-rate remarkable expertises, the resort displays our common determination to providing authentic hospitality expertises,” stated Garth Simmons, COO for Accor’s premium, midscale and economy department in Asia.
“We are thrilled to increase our working connection with Accor, a strong associate,” specified Worldwide Hotels Group Chief Executive Officer Carolyn Choo.
Worldwide Hotels was at the best of eight bids received and was purchased for $562.2 million or $2,148.5 psf per plot ratio. The breakeven expense during that time was approximated to get $800,000 per key.
