Perennial appoints Europe's luxury hotel group Kempinski to operate Capitol Singapore hotel

The Capitol Kempinski Hotel Singapore's full range of services will be made available in phases towards the end of 2018. PHOTO: PERENNIAL REAL ESTATE HOLDINGS

SINGAPORE - Perennial Real Estate Holdings has appointed Europe's luxury hotel group, Kempinski Hotels SA, to operate The Capitol Kempinski Hotel Singapore at Capitol Singapore - a heritage lifestyle integrated development in Singapore's downtown Civic District.

Comprising three heritage buildings, Capitol Singapore houses the shopping and dining destination Capitol Piazza, the iconic Capitol Theatre, the Eden Residences Capitol luxury apartments, as well as the upcoming The Capitol Kempinski Hotel Singapore, which will be Kempinski's flagship hotel in Singapore.

According to Perennial, The Capitol Kempinski Hotel Singapore will be positioned as a luxury lifestyle destination. It will comprise 157 guest rooms and suites, situated within the restored Capitol Building and Stamford House. The hotel will also feature an international restaurant under the helm of a Michelin-starred chef.

The Capitol Kempinski Hotel Singapore's full range of services will be made available in phases towards the end of 2018, beginning with the hotel's services in September this year, Perennial said.

Earlier this month, Perennial took full ownership of Capitol Singapore when it completed its acquisition of Chesham Properties' 50 per cent stake in Capitol Singapore at a cash consideration of $129 million.

Said Perennial's CEO, Pua Seck Guan: "Since it was announced on March 12, 2018 that Perennial will acquire the other 50 per cent stake to take full ownership of Capitol Singapore, we were pleasantly surprised to receive more than 15 proposals from world renowned hotel brands and operators who were keen to operate the hotel at Capitol Singapore. The proposals were thoroughly reviewed with the key selection criteria focused on the track record of the operator, overall concept, particularly on the F&B options, and range of services for Eden Residences Capitol, and the financial contribution to Perennial."

Vice-chairman of Kempinski Hotels' management board, Bernold O Schroeder noted: "Singapore is one of the world's most exciting destinations and a crossroads of the past and future, making it an ideal stage for our continued expansion in Asia. The Capitol Kempinski Hotel Singapore will attract Singaporeans and international travellers alike as the 'brand old new place' to be, blending the best of the city-state's past with the energy, creativity and entrepreneurship of modern day Singapore."

Perennial is an integrated real estate and healthcare company. The counter last traded at $0.865 on Friday, up 0.58 per cent, or 0.5 cent.

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