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Datapulse Tech

Stock Chart
Last Done 0.210
Change -0.005 (-2.33%)
Volume 51.5
Range 0.210 - 0.215

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Last Done 1.370
Change -0.010 (-0.73%)
Volume 1,659.6
Range 1.370 - 1.380

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Last Done 2.820
Change +0.010 (+0.36%)
Volume 88.4
Range 2.790 - 2.830

Investor appetite for Singapore's hotel market to stay healthy

06 Sep 2019 09:00

By CHEE HOK YEAN,KOK XIN

AFTER achieving a five-year record high of S$1 billion in 2018, the Singapore hotel investment market has remained upbeat for 1H 2019 with four major transactions comprising a total transacted value of S$1.35 billion. Transactions in 1H 2019 include the following:

April: 25 per cent stake in 575-key Marina Mandarin acquired by Singapore-based United Industrial Corp at S$190 million, reflecting the hotel value at S$760 million (S$1.3 million/key)

May: 146-key Ascott Raffles Singapore acquired by private investor Cheong Sim Lam for S$353.3 million (S$2.4 million/key)

June: 90-key Claremont Hotel Singapore acquired by Singapore-based luxury hotel group,Garcha Hotels, for S$70 million (S$0.78 million/key)


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Source: Business Times
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