SALE OF RAFFLES HOTEL

SALE OF RAFFLES HOTEL

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(Impact on Singapore's tourism industry): **

9.

Mdm Ho Geok Choo asked the Minister for Trade and Industry (a) how will the recent sale of the iconic Raffles Hotel impact the tourism and hotel industry; and (b) will the proposed new look affect the hotel's heritage and iconic status.

Mr Lim Hng Kiang: The pending sale of Raffles Hotel to a Qatar sovereign wealth fund and their subsequent plans for a makeover are commercial decisions.

Any makeover plans will have to take into account Raffles Hotel's status as a gazetted National Monument. Proposals for any addition or alteration (A&A) to the building must comply with the Preservation Guidelines (PGL) under the Preservation of Monuments Act, and will require the approval of both the Urban Redevelopment Authority (URA) and the Preservation of Monuments Board (PMB). In evaluating the proposal, PMB will ensure that the proposed works do not compromise the existing architectural and historical value of the hotel. The history and architecture of Raffles Hotel are unique features that set it apart from other hotels. Investors would have incentive to tap into this.

It is not unusual for hotels to undergo redevelopment and refurbishment to enhance their attractiveness. As the economy recovers and Singapore looks to tap on the growth in international travel, we can expect hotel room demand to increase as visitor arrival numbers grow. The development plans for Raffles Hotel, together with the opening of new hotels, will add to the variety of accommodation experiences for tourists to choose from.

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