Monthly Archives: August 2009

More boutique hotels in S’pore can spice up hospitality sector: analysts

Posted on 11 Aug 2009 | Comments Off on More boutique hotels in S’pore can spice up hospitality sector: analysts

Industry watchers said the boutique hotel sector in Singapore is under-penetrated.

They said there’s room for at least another 10 new ones to spice up the local hospitality scene and to attract more niche travellers looking for something different.

Take a shower right in the middle of the room just a few feet from your bed is what you get to do for about S$385 per night in a basic executive room at Singapore’s latest boutique hotel, klapsons.

The most expensive room, the premium suite, costs US$850 or S$1,225 per night.

Since its soft launch in June, the 17-room hotel, located in downtown Singapore, has attracted bookings from some 250 corporate clients.

Located at 15, Hoe Chiang Road, klapsons will open officially in October.

It took developers three years to put the hotel together Continue reading →

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Singapore Economy Grows More Than Earlier Estimated

Posted on 11 Aug 2009 | Comments Off on Singapore Economy Grows More Than Earlier Estimated

Singapore’s economy expanded more than initially estimated last quarter as manufacturing and services improved, reinforcing the nation’s emergence from its worst recession since independence 44 years ago.

Gross domestic product gained an annualized 20.7 percent last quarter from the previous three months, after shrinking a revised 12.2 percent between January and March, the trade ministry said today. Second-quarter growth was more than a July estimate of 20.4 percent. The median forecast in a Bloomberg survey was for a 19.2 percent gain.

Singapore raised its 2009 forecast for exports today, predicting overseas shipments may drop between 10 percent and 12 percent, less than a previous estimate of as much as 13 percent. Governments worldwide have pledged about $2 trillion in stimulus to counter the global recession, helping stabilize sales by Asian companies including Frasers Centrepoint Ltd.

“Given increasing signs of stabilization in the global economy and improvements in the region, together with the help of the government’s f Continue reading →

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Posted in Property Market / Real Estate

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