30 Apr '14, 12pm

ST: S'pore is attracting hotel chains such as Accor & the InterContinental Hotels Group, both adding new properties..

ST: S'pore is attracting hotel chains such as Accor & the InterContinental Hotels Group, both adding new properties..

MAMORU Kohda, who scouts the globe for properties for Japan's Daisho, began looking for a hotel in Singapore early last year. Within a year, the property investor and developer had acquired the newly opened Westin in the city for a record price. "Singapore's hospitality market will continuously grow, supported by tourists and corporate travellers," Mr Kohda, a director at Daisho Development Singapore in Brisbane, Australia , said in a phone interview. He travels the world seeking assets for the company, which has more than US$1.5 billion (S$1.9 billion) in property holdings. Singapore is attracting hotel chains such as Accor and the InterContinental Hotels Group, which are both adding new properties in the country, where the average daily hotel room rate is the highest in Asia. Accor will open its Sofitel So brand in the business district next month and its first Ibis Styl...

Full article: http://www.stproperty.sg/articles-property/singapore-prop...

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