Singapore’s largest Mercure hotel to open on Club Street in 1Q2024
Mercure Icon Singapore City Center has a vast range of eating choices, an all-day dining restaurant, a lobby and bar principle, with tables furnished with power outlets for doing work. A landscaped pool patio and indoor gym are created to revitalize the body and mind. The hotel will likewise provide car lots with EV battery chargers.
Accor and Worldwide Hotels Team signed an arrangement for Novotel Singapore on Kitchener a month earlier. It’s a repositioning and rebranding of the previous Parkroyal Kitchener Hotel, which Worldwide Hotels bought for $525 million in July.
The hotel rises at 8 Club Street on a previous public carpark site, which Worldwide Hotels obtained in a public land sales event tender in January 2019.
Mercure Icon Singapore City Centre is arranged in between the historic Chinatown and the CBD. The property is closely linked to 2 MRT stations, the Telok Ayer MRT Station on the Downtown Line and the Chinatown Station, an Interchange for the Northeast and Downtown Lines.
Accor, the biggest foreign hospitality team in Asia Pacific, Africa and the Middle East, has signed a deal with Singapore’s largest hotel provider, Worldwide Hotels Group, to open the most significant Mercure Hotel, the 989-key Mercure Icon Singapore City Center, in 1Q2024.
“Found in amongst the most happening neighbourhoods in Singapore, and together with a wealth of first-rate extraordinary backgrounds, the hotel displays our shared determination to providing real hospitality experiences,” claimed Garth Simmons, COO for Accor’s premium, midscale and economy division in Asia.
Worldwide Hotels reached the best of eight bids obtained and was purchased for $562.2 million or $2,148.5 psf per plot ratio. The breakeven cost during that time was estimated to get $800,000 per key.
“We are excited to increase our working relationship with Accor, a solid business partner,” specified Worldwide Hotels Group Chief Executive Officer Carolyn Choo.
