SINGAPORE—In a small market like Singapore, it’s difficult to be different. Far East Hospitality is planning to make a splash with its new Oasia brand, whose flagship property will have all guestrooms completed by October.
“The Oasia brand has been developed around three key values: thoughtfulness, respect and care. These have been translated across all facets of the property from hotel lobby to room design, through to its service and guest experience,” said Raphael Saw, COO, hospitality business group & director, hospitality operations, Far East Organization.
The Oasia Hotel Singapore had its soft opening in August in the enclave of Novena, a medical hub. The 428-room property was designed by Japanese “architect-cum-designer,” Takashi Sugimoto from Super Potato, in collaboration with Singapore architectural firm, Ong & Ong.
Far East Hospitality operates seven hotels and 11 residences with 2,163 rooms and more than 1,200 apartments respectively in Singapore and Malaysia.
Default Ad Will Appear Here
Oasia is the most recent brand launched by the company. A second Oasia Hotel will open in the next few years in Singapore, according to Saw.
Far East also owns and operates the Village Hotels and Residences brand (three), the boutique Quincy Hotel and The Elizabeth Hotel.
As far as overall company growth, the company is open to selectively considering good opportunities to expand its operations in key locations, Saw said.
“Apart from having a chance to build a well-located property, other issues that we have to deliberate on are whether a hotel or service apartment in that site would be the right fit, and the possibility of staffing the operation in such a way that would add value to the property and the customers it serves. Ultimately, running a service apartment or hotel is a price-value equation. And like any business concern, there also has to be a reasonable yield from our investment in the property.”
Saw said the company has invested in the upgrading of several of its hotels and residences along the shopping and entertainment district of Orchard Road: Far East Plaza Deluxe Residences, Orchard Parksuites and The Elizabeth Hotel.
He was optimistic about the outlook for the Singapore hotel market.
“There is a steady growth in Asia, and we see constant investments in the region, thus driving a corresponding demand for hotels and serviced residences. As long as the economic outlook for the region remains stable and strong, we anticipate that the demand for accommodation will also continue to grow in tandem,” Saw said. “Singapore has been the choice destination hub with its good and secure infrastructure of services from banking and finance, medical, education, hospitality and tourism, making it ideal for businesses and meetings.”
Singapore hotel performance
| July 2011 | year over year change | |
| Occupancy | 91.8% | 8.0% |
| Average daily rate | SGD291.17 | 13.6% |
| Revenue per available room | SGD267.23 | 22.7% |
Souce: STR Global