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Accor’s Singapore portfolio doubles in size following Fragrance Hotel deal

Accor has inked a deal with Global Premium Hotels (GPHL), one of Singapore’s largest hotel chains, to franchise the latter’s 15 hotels, 13 of which were trading under the existing Fragrance Hotel brand and two under Parc Sovereign Hotel brand. GPHL owns and manages the Parc Sovereign Hotel Brand and Fragrance Hotel Brand.

8 August 2019 - This new deal will add a further 15 hotels to Accor’s Singapore portfolio, taking the French hospitality group’s inventory to 30 hotels and 7,625 rooms in the city-state.

The 15 hotels will undergo asset enhancement initiatives to be in line with Accor global standards and will be rebranded to become one Mercure, one Ibis Styles and 13 Ibis Budget hotels.

Michael Issenberg, chairman & CEO Accor Asia Pacific, said: “Accor’s strong presence in and understanding of the Singapore market will be complemented by these additional hotels and with our proven expertise in mid-tier and economy hotel operations, we hope to bring added value to the owners.

“This deal is a great moment for our group as we are able to increase our Singapore presence significantly overnight with the addition of these 15 hotels/1621 rooms,” he added.

GPHL owner, James Koh, stated that the partnership is “indeed timely”, coming on the back of Singapore’s “buzzing hotel scene in recent years” and a “mid-tier hotel segment (that is) enjoying increasing popularity and strong growth figures”.

With the finalised deal, Accor will have 3,357 rooms – 1,840 in midscale and 2,428 in economy – in the luxury and premium space in Singapore.

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