Among
the noteworthy deals of the past week was the acquisition of the Hotel Miramar
in Singapore by a pair of Singapore-based companies.
SINGAPORE
—The 344-key Hotel Miramar in Singapore has been acquired by a pair of
Singapore-based companies, fund manager Aravest and Wee Hur Holdings, for S$160
million, with plans to rebrand the property as the city’s first DoubleTree by
Hilton hotel.
The
transaction is Wee Hur’s first hotel investment, as its subsidiary, Wee Hur
Property, has taken a significant minority stake in Aravest’s fund and is a
development partner in the asset. The hotel ceased operations at the end of
October and will be renovated and opened by the fourth quarter of 2026, ideally
before the city’s Formula 1 race next year.
To download
our list of deals from the past week in Excel format, click here.