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Oxley's Stevens Rd hotel development gets TOP

Singapore

HOMEGROWN property developer Oxley Holdings said on Tuesday its hotel development on Stevens Road had received the Temporary Occupation Permit (TOP) on Aug 3.

The group said the hotels at the development, operating under the Novotel and Mercure brands, are expected to commence operations in the second quarter of FY2018.

The development comprises a 254-room Novotel ...more

More disruption ahead for hospitality sector

THE government's move to halve the minimum rental period for private homes from six months to three months appears to be a middle-of-the-road approach to meeting clamouring demands from different camps. Despite what some see as a measured move, there are sombre implications for incumbent hospitality players.

Singapore is not alone in reviewing its rules as cities globally are doing likewise ...more

China visitors fuel rise in tourists, jump in spending

Singapore

DRIVEN by growth across most categories, tourism spend in Singapore jumped 15 per cent year-on-year in the first quarter of this year to S$6.4 billion, outpacing a 4 per cent rise in arrivals to 4.3 million.

Chinese travellers emerged as both the biggest spenders and leading source of visitors in the first quarter, chalking up double-digit growth in tourism receipts and ...more

Ascott solidifies position as global hospitality player

The serviced residence firm The Ascott made two major investments this month aimed at solidifying its position as one of the world's largest hospitality players.

The CapitaLand-owned company said yesterday it is acquiring an 80 per cent stake in Synergy Global Housing for US$33.7 million (S$45.9 million). This will triple its United States portfolio from about 1,000 units to 3,000 and raise ...more

S'pore hotel rates, airfares to take off in 2018

Singapore

AIRFARES in Singapore are expected to rise by 3.9 per cent next year, outpacing the region, while hotel prices here are projected to see a 3.2 per cent increase as the hotel industry picks up pace, according to a report.

In comparison, Asia-Pacific airfares are expected to grow at a slower 2.8 per cent in 2018, and regional hotel prices are expected to see a rise of 3.5 ...more

Business travel spending in Singapore to grow faster than world average

Singapore

BUSINESS travel spending for Singapore is projected to grow by 4.3 per cent this year - slightly above the global average - to S$17.2 billion, according to a report.

The report by the World Travel and Tourism Council (WTTC) and Travelport estimates that worldwide business travel spending would rise by 4 per cent to about US$1.2 trillion, driven by the Asia-Pacific, and will ...more

OUEHT backed by growth catalysts amid headwinds

THE hospitality industry is facing a competitive operating environment with a substantial amount of new supply slated to come onstream and softer corporate demand from some sectors.

But OUE Hospitality Trust (OUEHT) could be well placed among industry peers, especially amid expectations of a recovery in the sector next year, some analysts reckon.

OUEHT's portfolio includes the Mandarin ...more

Ascott buys 60% more of Quest for $191m

CapitaLand's wholly owned serviced residence unit, The Ascott Ltd, said yesterday it is acquiring an additional 60 per cent stake in Quest Apartment Hotels (Quest) for A$180 million (S$191 million).

The move will increase Ascott's stake in Quest from its current 20 per cent to 80 per cent, making it the largest serviced residence provider in Australasia.

With 180 properties across ...more

AccorHotels sees saturation giving it the upper hand

Singapore

DESPITE a slightly softer start to the year for the Singapore hotel market, AccorHotels said that its properties here are outperforming the sector, with both occupancy and rates doing well.

Chairman and chief executive officer for the Asia-Pacific Michael Issenberg said that, contrary to belief, having a saturation of hotels and brands in Singapore has given the group the ...more

S'pore's energy solutions on show at Expo 2017

A specially choreographed dance about the process of metamorphosis and its transformative power encapsulated Singapore's efforts to develop effective energy solutions at the country's Expo 2017 pavilion.

It was opened yesterday by Speaker of Parliament Halimah Yacob, who is in Astana, the capital city of Kazakhstan, for the event.

Themed Small City, Big Ideas, the pavilion showcases ...more

Singapore to host event featuring top scientists

A meeting of the best minds in science will take place in Singapore next week, when more than 400 scientists gather here for the Commonwealth Science Conference.

They will discuss issues such as climate change, emerging infectious diseases, energy and carbon storage, as well as medical research during the four-day conference, which starts on Tuesday.

The event, which will be held ...more

S'pore hosts global conference

The Synthetic Biology Conference is the world's foremost professional meeting of its kind. Launched in 2004, it brings together a global community of synthetic biology practitioners to share, learn and debate on the latest efforts in the field.

Previous conferences were hosted at leading academic institutions such as the Massachusetts Institute of Technology, Hong Kong University of Science ...more

Reits Symposium strikes an optimistic tone for digital future

Singapore

RETAIL sector naysayers may yet have to mince words as heavyweight real estate investment trusts (Reits) prepare to muscle through the digital storm. Such was the rallying cry from notable speakers at the Reits Symposium 2017 on Saturday.

The annual conference, jointly organised by ShareInvestor and the Reit Association of Singapore with the support of The Business Times, ...more

Maritime review 'highlights S'pore's naval diplomacy'

President Tony Tan Keng Yam will be reviewing about 50 warships from 21 countries, including Singapore, during the inaugural International Maritime Review (IMR) hosted by the Republic of Singapore Navy (RSN) today.

Staging one of the largest gatherings of naval ships in the region is the centrepiece of RSN's 50th anniversary events, but naval experts say it will also indirectly highlight ...more

Hyatt chain to open 5-star hotel in Bugis

Hyatt Hotels & Resorts will open an outlet here under its Andaz brand in September.

The move comes more than 40 years after the opening of the hotel chain's landmark Grand Hyatt Singapore in Scotts Road, still its only hotel here.

The five-star Andaz hotel will open within DUO, a development in Fraser Street consisting of two concave towers.

The 342-room hotel, which will ...more
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