LOCATION REPORT


SINGAPORE SWING CONTINUED…


Orchard, which has recently emerged from an SGD80 million makeover by Park Hotel Group to become a flagship property complete with four-storey retail podium. The efforts of local developers and entrepreneurial hoteliers in the boutique sector should also be considered. “We’ve seen the industry launching new concepts in 2010 that offer different consumer experiences at varied price points,” notes Yeo. “This has included five boutique hotels by local players.” All five – Hotel Fort Canning, Wanderlust, The Club, The Saff and Moon@23 Dickson – have been conceived with a distinct offering and positioning. Their target markets vary from the five-star to the budget-conscious traveller. Developed by Grace International, the company acknowledged to have whetted Singapore’s appetite for boutique hotels with


The Scarlet back in 2004, The Saff is housed in a three-storey heritage building on Keong Saik Road. Opened in October 2010, its design is inspired by the spice trade, in particular saffron, in a vision formulated by Concept Director Michael Tan, who also came up with the boudoir chic of The Scarlet. “We’ve kept the gorgeous wall carvings, unglazed orange clay roof tiles and terracotta façade of this pre- World War structure intact because they are a nostalgic part of Chinatown,” he says. “Inside the 79-room establishment we hope to reflect the symbolism of the spice trade, in many ways evocative of the mystique and allure of the Far East, which has always been an important merchandising activity in this area.” Over in Little India meanwhile, young entrepreneur Billy Ong has jumped from automotive trading roots into hospitality with a frill-free 83-room abode aimed at business travellers on a budget. These and other properties have contributed to room numbers increasing from 29,711 in 2008 to 31,312 in 2010. While the STB does not have forecasts yet for 2011, there are a handful of properties in the pipeline


over the next two years, such as Park Avenue Hotel Rochester, Mövenpick Heritage Hotel Sentosa, Ibis Singapore Novena and the first W in Singapore at Sentosa Cove. Demand for hotel rooms is expected to be further stimulated by forthcoming visitor attractions including Gardens by the Bay, International Cruise Terminal, National Art Gallery, River Safari and Changi Motorsports Hub although some commentators are warning of a drop- off in line with interest in the two integrated resorts slowing and more stock coming online. Nevertheless average occupancy in Singapore stood at 82% in September 2010. And while 2009 was a challenging year for the hotel sector in terms of room revenues, figures for September 2010 showed a revPAR increase of 20.7% to SGD192 while average room rate rose to SGD233.


Couple these indicators with continuing economic growth this year and the outlook for Singapore’s tourism industry looks relatively rosy. Propelled by STB’s ongoing drive and vision, the garden state should continue to flourish, making it an attractive destination for hotel investment.


056 JANUARY / FEBRUARY 2011 WWW.SLEEPERMAGAZINE.COM


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