Tag Archives: Hotel Royal

Hotel Royal’s Q3 net profit falls 9.7% on weak tourism mkt

Posted on 14 Nov 2009 | Comments Off on Hotel Royal’s Q3 net profit falls 9.7% on weak tourism mkt

Hotel Royal Limited on Friday said its net profit for the third quarter to end September fell 9.7 per cent to S$2.30 million due to lower contribution from the hotel segment as a result of the weaker tourism market.

Revenue was up 3 per cent at S$9.53 million, lifted by the additional contribution from the newly acquired Penang properties..

The group said it is more optimistic of the tourists’ market and expects to have better room occupancy for the fourth quarter of 2009.

Source : Business Times – 13 Nov 2009

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Hotel Royal family offering Guillemard apt block for sale

Posted on 13 Aug 2009 | Comments Off on Hotel Royal family offering Guillemard apt block for sale

Fragrance Group picks up freehold site at Changi Road for $33.56m

Melodies Limited, controlled by the Lee family of Hotel Royal, is selling a 20-storey freehold apartment block in Guillemard Road which it developed 11 years ago.

The price is about $70 million, reflecting $783 per sq ft based on existing strata area of 89,362 sq ft.

Colliers International, which is marketing the property, Cassia View, through an expression-of-interest exercise, says that the buyer could either spruce up the 72 units and sell them individually or tear down the property and redevelop it.

Cassia View is understood to have utilised the maximum gross floor area (GFA) allowed for the site based on a 2.8 plot ratio under Master Plan Continue reading →

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