The Swiss™tel Merchant Court in Singapore is being offered for sale by International Tender through Jones Lang LaSalle Hotels.Located on the banks of the historical Singapore River, the hotel is within walking distance to the city’s business and financial districts, and the entertainment and dining hotspots such as Clarke Quay, Boat Quay and Chinatown.
Citing the hotel’s close proximity to major demand generators, Mr Mike Batchelor, Managing Director Investment Sales Asia, Jones Lang LaSalle Hotels, said, “The ability to tap into diverse market segments ensures the hotel runs at consistently high occupancy year round. This is a well-timed opportunity for investors seeking to benefit from the huge growth potential offered by Singapore’s hospitality sector.”
The 476-room hotel features an urban resort concept with three food and beverage outlets, conference facilities, an infinity swimming pool, and a full-service Amrita Spa complete with a two-storey fitness centre. The hotel recently underwent a multi-million dollar refurbishment of its guestrooms, club floor and suites.
“The incoming purchaser will also have the opportunity to further enhance the asset through the redevelopment of the prime riverfront space overlooking Clarke Quay,” said Mr Tom Oakden, Senior Vice President, Jones Lang LaSalle Hotels. “The hotel’s ground floor space offers the ideal location for a new state-of-the-art indoor/outdoor food and beverage facility, tying in well with plans to revitalise the riverfront precinct and new signature events such as The Singapore River Festival.”
Singapore remains one of the Asia’s most tightly held hotel investment markets and it is rare for more than one international standard hotel offered to the market in any given year.
With sound economic fundamentals and an increasingly vibrant tourism industry, the future realisation of mega developments such as the two integrated resorts, a revitalised Sentosa and Marina Bay, and supporting tourism infrastructure such as the new Sports Hub and international cruise terminal, the outlook for continued growth in Singapore’s hotel market is extremely positive.
“We anticipate the property will attract interest from Europe and the Middle East as well as from the more traditional investment markets across north and south Asia,” said Mr Batchelor.