Thursday, October 23, 2008

Park's Clarke Quay Hotel To Open In March

Source : The Business Times, October 23, 2008

It will cater to businessmen, independent travellers

SINGAPORE-BASED Park Hotel Group's third hotel here, Park Hotel Clarke Quay, will open in March next year.

The company has spent $130-$150 million developing the 336-room hotel and will position it as a four-star business establishment. However, its proximity to Clarke Quay is also expected to make it attractive to free and independent travellers.

'The group's growth has been achieved mainly through acquisitions, so we are excited about our first new-built property,' said Park director Allen Law. 'We have plans to acquire 10-12 more hotels in the next few years, mainly in the Asia-Pacific region.'

Park also said yesterday it has acquired a third hotel in China - Grand Park Xian - as well as its first in Japan.

'Japan is one of the key markets we are looking at and we hope to acquire more in the future,' said Mr Law. The group will take over its new hotel in Xian on Nov 1.

Park now operates its own hotels, but plans to extend its management arm to other hotels.

Although the local tourism industry is seeing fewer arrivals, Mr Law is optimistic about the new hotel here.

The company does expect a slowdown, but business is unlikely to be affected too badly, he reckons.

Park now has six properties. Its other two hotels in Singapore are Park Hotel Orchard - previously Crown Hotel - and Grand Plaza Park Hotel City Hall, formerly Grand Plaza Parkroyal Hotel.

The group was a participant in the inaugural ITB Asia trade and travel show yesterday.

The event provided 'a platform to expand our brand awareness in Asia and beyond,' said Park's senior vice-president Mohd K Rafin.

Other participants included hotel chain Best Western, which is looking to showcase its properties in Asia, as well as promote its intended expansion into South-east Asian countries such as Singapore, Malaysia, the Philippines, Indonesia and Thailand.

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