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CDL names veteran hotelier as group CEO for Millennium & Copthorne Hotels
The board of City Developments Limited (CDL) has appointed Clarence Tan as the group CEO of Millennium & Copthorne (M&C) Hotels, effective this Thurs. He will be the first to take the helm of...
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COVID-19: Housing returning S'pore residents in hotels for SHN is 'critical'...
Housing thousands of returnees in hotels for the duration of their Stay-Home Notice is not an “indulgence”, but a “critical, urgent public health requirement”, said MND Minister Lawrence Wong. “So this...
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Stay-home notice: Provide lower-cost hotels, but with option to upgrade
The move to house all returnees from US and Britain in hotels to let them serve their stay-home notice is one way to contain the spread of the coronavirus. The question is: Why are we putting them up...
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Hotel arrangements for returnees are fair
Mr Roland Chong Kwong Min's forum letter raised the issue of saving costs when making arrangements to isolate returnees from US or Britain (Stay-home notice: Provide lower-cost hotels, but with option...
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Quick fix to house returnees critical to checking virus spread
We thank Mr Roland Chong Kwong Min for his feedback (Stay-home notice: Provide lower-cost hotels, but with option to upgrade, Apr 1). The stay-home notice (SHN) is an important public health...
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Genting Singapore's RWS suspends non-essential services till 4 May
RWS is temporarily suspending all guest offerings from 6 Apr to 4 May, Genting Singapore announced. This includes USS, SEA Aquarium, Adventure Cove Waterpark and Dolphin Island, and the casino. This...
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Hotels survive on corporate bookings and government support as staycation...
Until recently, staycation deals were one way for Singapore’s hotels to capture local demand, even as tourist arrivals declined to zero due to a ban on short-term visitors from Mar 23. However, this...
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Mandarin Orchard to become Hilton's flagship hotel in S'pore
A mainstay of Singapore's key shopping and tourist belt over the last half-century, Mandarin Orchard Singapore will be renovated and renamed Hilton Singapore Orchard. It will have a refurbished lobby,...
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Mr. Propwise’s thoughts on the Singapore REITs bloodbath
If you’re an investor in Singapore REITs you will no doubt have been hit by the rapid collapse of REIT stock prices over the last few weeks. In just a period of two-plus weeks, many counters were down...
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Use vacant army camps instead of hotels for quarantine
It is regretful that the authorities have put up returning Singaporeans and work pass holders in hotels. All that money spent could have been saved for future crises. I am against this expense because...
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Fitch cuts CDL H-Reit outlook; sees Ascott Reit as less vulnerable
Fitch Ratings has lowered its outlook on CDL Hospitality REIT (CDL H-Reit) to negative from stable. It said the S-Reit has a weaker business profile than other Singapore Reits, in particular...
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Serangoon Road hostel, Crave nasi lemak outlet fined for breaching COVID-19...
A hostel in the Serangoon Road area and an outlet of the Crave nasi lemak chain have been fined for breaching safety requirements related to the COVID-19 outbreak, said ESG and Singapore Tourism Board...
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Hotels used to house Singapore’s migrant workers as Covid-19 cases continue...
Hotels and more private sector players have been deployed in Singapore’s fight to curb the spread of Covid-19 among migrant workers, as confirmed cases continue to surge. The Singapore Tourism Board...
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Hotel S-REITs may opt to privatise: analyst
The four hotel-focussed S-REITs have begun to trade below its replacement costs, making them privatisation candidates, according to an analyst note by DBS Group Research, The four Singapore hospitality...
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Analysts cautiously optimistic about CDL Hospitality Trusts' strong fundamentals
While the hotel industry has been hit by a slowdown in travel arising from the Covid-19 pandemic, strong fundamentals and pent up demand has seen analysts express cautious optimism that CDL Hospitality...
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Nisha Menon joins Radisson Hotel Group as Asia Pacific general counsel
Intl hotelier Radisson Hotel Group has appointed Nisha Menon as its new general counsel, APAC. She will be based in Singapore and will sit on the group’s APAC Executive Committee. Menon will report...
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Singapore had fourth record year for tourism in 2019
Before the Covid-19 pandemic devastated intl travel, Singapore had its fourth consecutive record year for tourism in 2019, with healthy growth in the fourth quarter, a Singapore Tourism Board quarterly...
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OUE C-REIT's NPI up 42.5% to $62.08m in Q1
OUE Commercial REIT (OUE C-REIT) saw its NPI surge 42.5% YoY to $62.08m in Q1 from $43.57 in 2019. Revenue jumped 40.5% YoY to $77.73m from $55.34m over the same period. Income rose thanks to the...
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Coronavirus: Singapore moves 2,600 nursing-home employees into hotels to...
Singapore is moving 2,600 nursing-home employees into hotels to reduce their interaction with the community, with health minister Gan Kim Yong on Tues saying it was critical to protect older...
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Frasers Hospitality Trust's 2Q DPS falls 68.1% to 0.3137 cents on impacted...
In a growing trend, the managers of Frasers Hospitality Trust (FHT) have joined many other REIT managers in holding back distribution, in anticipation of tougher operating challenges caused by the...
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Far East Orchard's 1Q earnings dive 74% to $0.9 mil as hospitality business...
Developer Far East Orchard saw its earnings plunge 73.5% to $0.9 million for 1QFY2020 ended March from $3.4 million last year. Apart from currency translation losses of $11.2 million due to the...
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Impact of Covid-19 'largely confined' to Tuan Sing's hospitality segment,...
Tuan Sing Holdings’ business operations impacted by the Covid-19 outbreak is “largely confined” to its hospitality segment, with its diversified portfolio across segments and regions ensuring a “high...
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CDL suffers from lower hotel RevPAR but office portfolio remains 'resilient'
The prolonged Covid-19 pandemic has affected businesses and communities globally, according to property giant City Developments in its operational update released on Tues. The pandemic has impacted...
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Frasers Property CEO warns 'business as usual' is not an option as 2Q...
Frasers Property reported 2Q20 earnings of $74.5 million, down 38.1% y-o-y, with weaker contributions from its hospitality business and associates. Revenue for 2Q20 increased 2.2% to $954.7 million....
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Coronavirus: Some hotels help out by offering beds and meals for free
Several hotels have been putting their facilities to good use, offering beds and meals for free. Last month, The Ascott stepped up to offer free accommodation to 12 employees from the Lee Ah Mooi Old...
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Coronavirus: Digital check-ins and lots of disinfecting as Singapore hotels...
Even as hotels grapple with some of the worst occupancy rates in history, they know it cannot be business as usual when they are allowed to reopen. Concerns over coronavirus transmission mean learning...
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OUE's net profit skyrockets to $87.1m in Q1
OUE Limited’s profit attributable to owners of the company (PATNCI) expanded to $87.1m in Q1 from only $1m last year on the back of foreign currency translation gains as well as higher marked-to-market...
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UOL's Singapore hotel occupancy slashed to half in Q1
UOL saw the occupancy rate of its hotels and serviced apartments in Singapore fall to 50% in Q1 from 85% in Q4 2019, according to its quarterly business updates. The RevPaR of its Singapore hotels hit...
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Two freehold Lavender shophouses selling from $23.8 mil
A pair of freehold shophouses at 26 and 28 Cavan Road in Lavender are on the market with a guide price of $23.8 million. The two shophouses can be purchased collectively or individually. The...
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Hotel RevPAR dropped 62% YoY in Q1
Gazetted hotel RevPAR plunged by approximately 62% YoY to $69 in Q1, according to CBRE Singapore Hotel Insights. Occupancy declined 50% YoY to 40% whilst average daily rate (ADR) levels dropped 20% YoY...
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