Global Hospitality Report (November 1, 2017)

U.S. Hotel Development Cost Survey 2016/17 
By Stacey Nadolny

Each year, HVS researches development costs from our database of actual hotel construction budgets, industry reports, and franchise disclosure documents. These sources provide the basis for our range of component costs per room.

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Far East Hospitality to Open Three New Hotels in Sentosa Next Year 

Singapore-based Far East Hospitality has announced that it will open three hotels with a combined inventory of 839 rooms in Sentosa, Singapore, in mid-2019. Located at the Artillery Avenue in the Palawan area of Sentosa Island, the three hotels will aim to serve mainly the mid-tier market and attract staycation enthusiasts. The 606-key Village Hotel Sentosa aims to target the mid-tier market, while the The Outpost Sentosa with 193 rooms will cater to young couples who prefer exclusivity. The smallest of the three hotels, with 40 keys, is yet to be named, and will be designed to appeal to guests in the upscale segment. Sentosa, which currently has 13 hotels with a total of 2,500 rooms, expects to see an improvement in visitation consequent to Far East Hospitality’s hotel additions as well as the revamp of the Merlion Gateway that is expected to be completed by 2021.

HVS APAC HOSPITALITY NEWSLETTER.
Carlson Rezidor Books a Venetian Gondola for Its Radisson Blu Brand  

Carlson Rezidor Hotel Group has signed an agreement that will see it makes its first appearance in Venice, Italy. The Radisson Blu Hotel, Venice San Marco will be developed on the canal-side in the inner part of the city’s San Marco district, close to the famous Saint Mark’s Square. The 50-room hotel is scheduled to open by the end of 2019.

HVS EMEA HOSPITALITY NEWSLETTER.

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