Singapore's first ever Sofitel hotel to open in 2013

Singapore's first Sofitel hotel, the Sofitel So Singapore, will launch in early 2013, with Royal Group Holdings contributing up to S$130 million, including the S$86 million it paid for the Robinson Road site during a public tender in January.

The hotel, which will include 135 rooms and suites, will be located at the former Ogilvy Centre, a landmark conservation building opposite Lau Pa Sat.

According to a report by The Business Times, room sizes at the hotel will range from 24 sq m to 140 sq m, while the average daily room rate is expected to be around S$300.

The report also said that the Sofitel So label is the trendy, contemporary label for Sofitel Luxury Hotels.

Meanwhile, The Straits Times reported that hotel rates in Singapore have climbed by over 12 percent since 2010, with the supply of hotel rooms unable to match the growing demand.

It noted that the average rate has surged to around S$240 this year and several sources said it could reach between S$250 and S$270 by the end of the year, which is still lower compared to cities like Hong Kong, Shanghai and Tokyo.

Although hotel room inventory continues to grow in the country, some industry players and analysts expect the rates to rise, at least until 2013.

To contact the journalist, you may send your message to editor@propertyguru.com.sg