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IHG (InterContinental Hotels Group) has signed a management agreement for the largest Holiday Inn Express hotel in Southeast Asia with RB Capital Hotels Pte Ltd, a Singapore-based property and real estate developer.
The hotel is expected to open in the second half of 2013 and will have between 460 to 500 rooms, styled to best serve the priority preferences of the fast-growing mid-tier corporate and leisure travellers transiting Singapore.
The hotel site is prominently located in Singapore’s Central Business District, close to the Singapore River and the surrounding popular waterfront entertainment hubs.
RB Capital Hotels won the tender from the Singapore Urban Redevelopment Authority for the 0.55 hectre land parcel (5,502 sqm) with a top bid of SGD $101.113 million. The high-value and prominent site attracted tenders from leading property developers in a public bid held in August this year.
Kishin R K, who heads RB Capital Group and RB Capital Hotels said, "Holiday Inn Express caters to a growing demand from both leisure and business travellers looking for comfort, convenience and value. The Holiday Inn Express we are developing will feature well-designed rooms and a fresh, hip product relevant to today’s guests. Also included within the development will be a full suite of dining, gym and recreational facilities our guests can enjoy."
When opened, guests will benefit from its ideal location – the Holiday Inn Express is within walking distance to the retail, dining and entertaining options at Singapore’s waterfront hot spots. It is also a five-minute drive to Raffles Place and the Orchard Road shopping belt, and easily accessible by various public transportation options.
"There is great growth potential for a brand like Holiday Inn Express in Singapore, which addresses the need for quality, value-based hotels. We are seeing rising demand from both corporate and leisure markets for such focused service lodging options," said Jan Smits, Managing Director, IHG Asia Australasia.
"Our relationship with RB Capital Hotels has given us the opportunity to bring Holiday Inn Express to one of Singapore’s most prominent and popular areas for both corporate and leisure travellers," Jan added.
RB Capital Hotels is the new third ‘business engine’ of RB Capital Pte Ltd, a property investment and development group in Asia. The Group owns and manages office and retail developments and has offices in Singapore, Malaysia and Hong Kong.
This will be the second Holiday Inn Express in a high-value location in Singapore. IHG signed the first Holiday Inn Express agreement in September. The hotel will open on Orchard Road by 2013. This signing increases the Holiday Inn Express pipeline to 37 in Asia Pacific. The brand is expected to premier in key Asian markets including Thailand, India and Singapore over the next few years.
Holiday Inn Express is the fastest growing hotel brand in its category, opening on average two hotels a week around the world. There are now than 2,101 Holiday Inn Express hotels opened and over 500 properties under development globally.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
