, Hong Kong

Park Hotel Group sells Singapore hotel for US$242 million

The Park Hotel Clarke Quay was bought by the Ascendas Hospitality Trust listed in Singapore.

Park Hotel Group is owned by Hong Kong billionaire Law Kar Po. Park Hotel Clarke Quay is a 336-room hotel built on land bought by the Park Hotel Group fo in 2006. The Park Hotel Group will lease the site under a 10-year agreement, and will also operate the hotel as the Park Hotel Clarke Quay.

The Park Hotel Group owns and operates seven other Park-branded hotels in Asia. It will open another two in Singapore in 2015 for third-party owners.
  

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

AAHK signs $4.62b agreement to acquire Zhuhai Airport
Secretary for Transport & Logistics Lam Sai-hun witnessed the signing ceremony.
Aviation
Gov’t extends judiciary e-Appointment services
This will enable users to apply for self-bankruptcy petitions and probate applications online.
InvestHK opens office in Cairo
This is part of its effort to attract companies from MENA.
Hong Kong top court affirms same-sex spouses' housing rights
Two judicial reviews concerned rights under public rental housing and the Home Ownership Scheme.
Healthcare

Exclusives

Hong Kong Residency rule could boost office sector
The ultra-rich are also expected to set up family offices in the city.
Allegrow Biotech engineers technology to activate immune cells
The startup’s invention can be used to treat and potentially cure diseases like cancer.
Healthcare
Renminbi rise to fuel Bank of China HK’s growth
The lender expects the currency to be used more often in cross-border deals.