Singapore’s largest Mercure hotel to open on Club Street in 1Q2024
Mercure Icon Singapore City Center is positioned in between the historic Chinatown and the CBD. The hotel is closely attached to two MRT terminals, the Telok Ayer MRT Terminal on the Downtown Line and the Chinatown Station, an Interchange for the Northeast and Downtown Lines.
Accor, the largest global hospitality team in Asia Pacific, Africa and the Middle East, has recently signed a transaction with Singapore’s largest hotel operator, Worldwide Hotels Group, to establish the largest Mercure Hotel, the 989-key Mercure Icon Singapore City Center, in 1Q2024.
Accor and Worldwide Hotels Team authorized 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 acquired for $525 million in July.
“Found in amongst the most happening areas in Singapore, and together with a riches of first-rate extraordinary backgrounds, the resort displays our shared commitment to giving real hospitality expertises,” said Garth Simmons, COO for Accor’s premium, midscale and economy branch in Asia.
The hotel rises at 8 Club Street on a former public carpark location, which Worldwide Hotels bought in a public land sales event tender in January 2019.
“We are excited to increase our working partnership with Accor, a strong associate,” specified Worldwide Hotels Group CEO Carolyn Choo.
Mercure Icon Singapore City Center has a wide variety of dining options, an all-day dining restaurant, a lounge and bar principle, with tables prepared with power outlets for doing work. A landscaped pool deck and inside health club are developed to invigorate the body and mind. The hotel is going to likewise include car lots with EV battery chargers.
Worldwide Hotels was at the top of 8 proposals got and was purchased for $562.2 million or $2,148.5 psf per plot ratio. The breakeven expense at that time was approximated to get $800,000 per key.