The Urban Redevelopment Authority (URA) and the Singapore Tourist Board (STB) are revising their policy towards applications to convert sites zoned for hotel use to other uses.
With immediate effect, such applications will be considered under the national planning framework to take into account the planning intentions in the development master plan. Analyst Nicholas Mak of Knight Frank believes the revised approach is to give the government more flexibility.
He does not see a drastic change in the supply of hotel rooms as a result of the revision.
This is because the outlook for the hotel industry is very strong and there are no push factors for hotel owners to convert the use of their sites.
Under the hotel safeguarding policy introduced in 1997, hotels in designated areas were not allowed to convert to other uses. Most of these hotels are in the Orchard Road belt.
With the latest announcement, this policy will be discontinued. - CNA/ac
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