SINGAPORE – Crown Prince Hotel, located at Singapore’s prime shopping and entertainment district Orchard Road is up for sale according to a Business Times report.
The hotel has been offered for sale by Jones Lang LaSalle Hotels (JLL Hotels) and the tender is expected to close mid-November. JLL Hotels did not want to disclose the freehold property's current valuation or price expectations. The hotel has 330 guest rooms, although 19 have been shut.
The hotel's owner, Forward Investment, owes Great Eastern, OCBC and a consortium of banks led by HSBC a total of about S$250 million (US$146 million).