While serving our group of clients who is looking to purchase a hotel in Singapore, we were awed that the hotel industry has recorded ‘stellar’ performance last year 2013.

With upcoming development of terminal 4, Singapore is expecting to handle up to 82 million of passengers movement in 2017, this spells an increase in demand for hotel accommodation in Singapore in the upcoming years.  Furthermore, statistics from Singapore Tourism Board shows a steady climb in the number of tourist arrivals.

Tourist Arrival

On the back of this growing tourism industry, the hotel industry has enjoyed stellar performance in 2013. In last quarter of 2013, the hotel site at Havelock Road launched for sale under Government Land Sale programmes has saw strong interest, drawing a 9 party tender with a top bid of $30.1 million from I Hotel.

At the close of the year 2013, the hotel industry also saw a record-breaking transaction. The Westin Singapore hotel was sold by Blackrock‘s Asia Property Fund III, a fund managed by private equity MGPA, to Japan-based property developer and investor Daisho group for $468 million, translating to around $1.5 million per room, breaking the previous record of $1.4 to $1.5 million per room set by Bright Ruby Resource’s purchase of Grand Park Orchard Hotel in 3rd Quarter 2013.

Here’s the 12 major hotels deal in 2013:

HotelPricePrice Per Room
Mandarin Orchard Singapore1,190,000,0001,132,255
Grand Park Orchard Hotel1,160,000,0001,400,000 to 1,500,000
Westin Hotel468,000,0001,534,000
Park Hotel Clarke Quay300,000,000892,857
Rendezvous Grand Hotel264,300,000886,913
Park Regis Singapore250,000,000818,000
Gallery Hotel232,500,5001,000,000
The Sentosa Resort & Spa201,850,0001,000,000
Ibis Singapore Novena155,000,000622,000
UE Bizhub East (Hotel Component)138,000,000549,801
Berjaya Hotel50,000,0001,020,000
Hotel 192935,000,0001,093,750

Interested to buy or sell your hotel? Kindly contact our team  for a non-obligatory discussion.


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