ibis Singapore on Bencoolen - SOLD

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Sold for 210,000,000 SGD Date of Sale: July 2010
Rooms: 538
Price Per Room: 390,335 SGD
Property Id : 29261

 Jones Lang LaSalle Hotels has been retained by Bencool LA Pte. Ltd. (the “Owner”) on a sole and excusive basis to offer for sale the ibis Singapore on Bencoolen (the “Property” or the “ibis”), which represents an exceptionally well-timed opportunity for investors to acquire a state-of-the-art hotel in one of Asia’s most sought-after investment destinations.

Opened in February 2009 and occupying a highly prominent and accessible location in Singapore’s cultural and civic district, the 538-key property is operated as an ibis hotel by Accor, one of the world’s leading hotel groups. With the Property’s cutting-edge design and functionality together with the benefit of Accor’s powerful global sales, marketing and distribution systems, the ibis Singapore on Bencoolen is achieving high levels of trading performance yet provides excellent income growth potential.

With easy access to Bugis Mass Rapid Transit (“MRT”) Station and convenient expressway connection to Changi International Airport, the Property enjoys good communication links and is only five minutes drive away from the Central Business District (“CBD”), whilst being in close proximity to a host of other commercial, retail, cultural and tourist attractions.

The gateway city of Singapore is one of Asia’s most important business and transport hubs, and with the opening in 2010 of ground-breaking government-led initiatives such as Resorts World Sentosa and Marina Bay Sands, the city’s business and leisure tourism is set to grow significantly in future years.

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