SINGAPORE - Park Hotel Group has lost its management contract for Park Hotel Clarke Quay, the second contract it has lost out of the six hotels it managed here. This comes after the winding up of a firm that used to own the Singapore-based hospitality group.
On Aug 28, landlord Ascendas Hospitality Reit terminated a master lease agreement and took possession of the 336-room hotel because tenant Park Hotel CQ failed to pay $5.92 million in debt by June 30.
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