Tag Archives: Grand Park Orchard

Grand Park Orchard to open in July

Posted on 11 Mar 2010 | Comments Off on Grand Park Orchard to open in July

Grand Park Orchard – formerly known as Park Hotel Orchard – will be opening its doors in July after an $80 million makeover.

Five-star luxury: The 308-room hotel is Park Hotel Group’s flagship property; room rates are expected to be around $350 per night

The five-star 308-room hotel at Orchard Road is Park Hotel Group’s flagship property. Room rates are expected to be around $350 per night.

Grand Park Orchard will bring more sparkle to the shopping belt with an eight-storey-tall media wall. It will also add to food and beverage establishments in the area, with all-day restaurant Open House serving pizzas, dim sum, sandwiches, claypot dishes and roast meat; the Champagne Bar serving Veuve Clicquot cocktails; and the Onyx Bar.

Shoppers can also look forward to the opening of Grand Park Orchard’s four-storey retail podium, Knightsbridge.

Park Hotel Group has positioned Knightsbridge as a space for luxury brands, and it will soon reveal the names taking residence.

It said that it has secured pre-commitments for more than 50 per cent of the space so far.

Park Hotel Group director Allen Law said that Grand Park Orchard ‘represents the aspirations of the group as we scale the heights to be the leading hospitality chain in the Asia-Pacific’.

The hotel owner, developer and manager has eight properties across three countries. These include Park Hotel Clarke Quay and Grand Park City Hall in Singapore.

Source : Business Times – 11 Mar 2010

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Park Hotel plans listing in 2011

Posted on 24 Aug 2009 | Comments Off on Park Hotel plans listing in 2011

SINGAPORE-BASED Park Hotel Group has set its sights on listing in 2011, just in time for its 50th anniversary, although it is still mulling over the details.

‘We’re planning to list in 2011 either in Singapore or Hong Kong. We have to study the different criteria and policies the two stock exchanges are offering,’ director Allen Law told BT in an interview.

One issue that the group is still undecided on is whether to list as an equity or as a real estate investment trust (Reit). Other factors, such as how best to mitigate foreign exchange risk, will also come into play.

‘Looking at our portfolio, Singapore . . . contributes almost 40 per cent of our total revenue. In terms of trying to manage foreign exchange risk, Singapore would be a better choice,’ he pointed out, but then went on to add that Hong Kong offers better interest rates. Continue reading →

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