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SINGAPORE, October 21, 2011 – The Orchid Hotel Singapore has been officially launched as one of the hotels for sale in Singapore by exclusive agents Jones Lang LaSalle Hotels. Occupying a prime central business location, the newly constructed 272-key property is being offered with the benefit of vacant possession of brand and management.
Tom Oakden, Executive Vice President of Investment Sales Jones Lang LaSalle Hotels, who is handling the sale for the owners commented "The sale of the Orchid Hotel is a rare and exciting opportunity for an owner operator or investor to acquire and re-brand a significant hotel asset in the heart of Singapore, arguably one of the most sought after hotel markets in Asia Pacific, if not the world."
He added, "The last hotel sold by Jones Lang LaSalle Hotels in the open market in Singapore with vacant possession was the Crown at Orchard in 2005. The Orchid Hotel will certainly appeal to a much wider audience of buyers than we have seen for encumbered assets as has been the type of sale that has dominated the Singapore hotel investment market in recent times with sales such as Crowne Plaza Changi Airport, Park Regis and ibis Bencoolen."
Jones Lang LaSalle Hotels are conducting a two-stage sale process with Expressions of Interest being called for in early November.