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Singapore hotel investment sales surged last year: Savills

Published on Jan 27, 2014 11:59 AM

Hotel investment sales in Singapore surged last year partly due to the sale of The Westin Singapore, said property consultancy Savills in a report on Monday.

Hotel investment volume last year was $2.45 billion - 4.15 times higher than in 2012.

Japan-based Daisho Group's $468 million purchase of The Westin Singapore from BlackRock in December was the biggest hotel deal last year.

It accounted for the bulk of the $606 million worth of investment transactions in October through December. There was only one other hotel sale that quarter.

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