Wyndham Hotels will launch its first hotel brand in Singapore
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The US-based Wyndham Hotels and Resorts will unveil a soft opening for its first hotel brand with a name in Singapore in the coming month. The flagship hotel with 591 keys will be dubbed The Peninsula Excelsior, Singapore which is an official Wyndham Hotel. The hotel is situated on the 5th floor of Coleman Street in the Civic District.
The hotel’s launch date is planned for the beginning of 2024 following a multi-million dollar renovation. It is a property will be owned and operated by the regional hotel company YTC Hotels, part of the YTC Group, which also is the owner of the neighboring Peninsular Hotel. It also owns Menara Peninsular Hotel located in Jakarta, Indonesia.
In February The YTC Group put up the collective sale of Excelsior Hotel and a shopping centre, with a reserve of $458 million. The deal was also signed by Cushman & Wakefield as the marketing agent. The entire structure is comprised of 21 floors of a tower that houses two84 keys for the hotel as well as five storeys of retail space. The collective sale auction closed on April 18 without bids that were successful.
The introduction of the new brand is the beginning of Wyndham’s global hotel franchising firm’s strategy to strengthen its place within the city-state. In an announcement the company states that Wyndham will redouble its goals to build an expanded presence through its distinct, high-end lifestyle, mid-scale, and value brands throughout the United States.
“Singapore is an integral part in Wyndham’s regional strategy for growth and is a key part of its promise to provide guests with the best accommodation choices throughout the region. This announcement further demonstrates the rapid growth we are experiencing in the region, and further builds on our impressive pipeline of announcements and signings,” states Matt Holmes, vice president of business development for South East Asia and the Pacific Rim, Wyndham Hotels and Resorts.