Singapore’s largest Mercure hotel to open on Club Street in 1Q2024
Accor, the biggest global hospitality group in Asia Pacific, Africa and the Middle East, has recently signed a contract with Singapore’s largest hotel broker, Worldwide Hotels Group, to open the most significant Mercure Hotel, the 989-key Mercure Icon Singapore City Center, in 1Q2024.
Worldwide Hotels was at the top of eight proposals received and was acquired for $562.2 million or $2,148.5 psf per plot ratio. The breakeven expense at that time was determined to get $800,000 per key.
Accor and Worldwide Hotels Team acknowledged a contract for Novotel Singapore on Kitchener a month earlier. It’s a repositioning and rebranding of the prior Parkroyal Kitchener Hotel, which Worldwide Hotels purchased for $525 million in July.
“We are thrilled to increase our working relationship with Accor, a solid partner,” specified Worldwide Hotels Group CEO Carolyn Choo.
The hotel stands at 8 Club Street on a previous public carpark location, which Worldwide Hotels acquired in a government land deal tender in January 2019.
Mercure Icon Singapore City Center is arranged in between the historic Chinatown and the CBD. The property is directly attached 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.
“Found in one of the most happening communities in Singapore, and by having a wealth of world-class extraordinary backgrounds, the resort demonstrates our mutual commitment to giving genuine hospitality knowledge,” claimed Garth Simmons, COO for Accor’s premium, midscale and economy department in Asia.
Mercure Icon Singapore City Center has a vast range of eating choices, an all-day eating restaurant, a lobby and bar concept, with tables prepared with power sockets for working. A landscaped swimming pool patio and inside fitness center are designed to revitalize the mind and body. The resort will likewise feature car lots with EV battery chargers.