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Case Study

Park Hotel Clarke Quay sold for over USD200 million

As Singapore’s largest single hotel transaction in recent history, JLL’s Hotels​ and Hospitality Group brokered the sale of the Park Hotel Clarke Quay between Parksing Property Pte. Limited and The Trust Company (Asia) Limited, as trustee of Ascendas Hospitality Real Estate Investment Trust. The purchase consideration was USD237 million. The hotel will retain its brand and management under the lease structure with Park Hotel Group for an initial term of ten years, with an option to extend for a further term of five years upon parties’ mutual consent.

Occupying a prominent site along the banks of the Singapore River in Clarke Quay, one of Singapore’s most sought-after locations, Park Hotel Clarke Quay is situated within walking distance to the Central Business District, Orchard Road and Marina Bay. Opened in 2008, the hotel features 336 guest rooms and suites, a choice of two food and beverage outlets, dedicated meeting and banqueting venues, as well as a range of recreational facilities.​