Hotel News - Singapore-based hotel owner and operator, Worldwide Hotels Group (“Worldwide Hotels”), has acquired a 99-year leasehold hotel site along Club Street in Singapore’s Central Business District. The bid of SGD562.2 million (SGD2,148.50 per square foot per plot ratio) was made through Worldwide Hotels’ subsidiary, Midtown Development, and is a record price for a 99-year leasehold land at a state tender. The bid was also 22% higher than the hotel site sale at the Singtel site on Hill Street in February 2018. With an expected investment of more than SGD700 million, Worldwide Hotels envisages a four-star property that will become the group’s landmark hotel. Worldwide Hotels currently owns and manages six hotel brands in Singapore.
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