Singapore’s largest Mercure hotel to open on Club Street in 1Q2024
Worldwide Hotels was at the top of 8 proposals obtained and was acquired for $562.2 million or $2,148.5 psf per plot ratio. The breakeven price at that time was determined to get $800,000 per key.
Accor, the largest foreign hospitality team in Asia Pacific, Africa and the Middle East, has authorized a transaction with Singapore’s largest hotels and resort operator, Worldwide Hotels Group, to establish the largest Mercure Hotel, the 989-key Mercure Icon Singapore City Centre, in 1Q2024.
“Situated in among the most happening areas in Singapore, and by having a wealth of first-rate remarkable experiences, the resort shows our shared commitment to supplying genuine hospitality expertises,” stated Garth Simmons, COO for Accor’s superior, midscale and economy department in Asia.
Mercure Icon Singapore City Centre has a wide range of dining options, an all-day eating restaurant, a lobby and bar concept, with tables prepared with power outlets for doing work. A landscaped swimming pool patio and interior health club are developed to revitalize the body and mind. The resort will also feature automobile lots with EV battery chargers.
Mercure Icon Singapore City Center is positioned between the historical Chinatown and the CBD. The hotel is directly connected to two MRT stops, the Telok Ayer MRT Terminal on the Downtown Line and the Chinatown Terminal, an Interchange for the Northeast and Downtown Lines.
The hotels and resort rises at 8 Club Street on a past public carpark spot, in which Worldwide Hotels acquired in a government land deal tender in January 2019.
“We are thrilled to broaden our working relationship with Accor, a solid business partner,” stated Worldwide Hotels Group Chief Executive Officer Carolyn Choo.
Accor and Worldwide Hotels Team signed an agreement for Novotel Singapore on Kitchener a month ago. It’s a repositioning and rebranding of the former Parkroyal Kitchener Resort, which Worldwide Hotels purchased for $525 million in July.