InterContinental Hotels Group will end its management of InterContinental Singapore at tourist hotspot Bugis by the end of this year as the hotel is set to be rebranded next year.
Marriott International is reportedly shortlisted to operate the property, according to The Business Times.
InterContinental Hotels Group said the hotel’s exit from the group’s system comes as the hotel management agreement comes to an end.
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InterContinental Singapore in Bugis, Singapore. Photo courtesy of InterContinental Singapore |
Frasers Hospitality Trust (FHT), which owns the 406-room hotel, said in a statement Tuesday that the facility “will continue operations and remain a key asset of Frasers Hospitality.”
It explained that any change in the hotel operator aligns with FHT’s “active asset management strategy,” and that further updates will be announced in due course.
Frasers Property is controlled by Thailand’s wealthiest individual, Charoen Sirivadhanabhakdi.
At an investors’ meeting on Aug 15, Eric Gan, CEO of FHT, said the trust had been operating under a “difficult” operating environment, according to Channel News Asia.
Gan explained that appreciation of the Singapore dollar has caused some business and leisure travellers to perceive premium hotel stays as more costly, thereby impacting demand.
InterContinental Hotels Group, a British multinational hospitality company owning 20 hotel brands including Holiday Inn and the upcoming Hotel Indigo Changi Airport, will continue to operate the remaining InterContinental property in Singapore located at Robertson Quay, owned by the Royal Brothers’ RB Capital Group.
