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One of the key factors to consider when investing in condos in Singapore is the impact of the government’s property cooling measures. Over time, the Singaporean government has implemented various measures to control speculative buying and maintain a steady real estate market. These measures include the implementation of Additional Buyer’s Stamp Duty (ABSD), which entails higher taxes for foreign buyers and those purchasing multiple properties. While these measures may initially affect the short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a more secure investment environment. Additionally, interested buyers can explore a variety of Singapore Projects to find the perfect condo investment opportunity.
Seibu Prince Hotels & Resorts, a subsidiary of Tokyo-listed Seibu Holdings, has made their brand debut in Southeast Asia with the launch of Park Regis by Prince Singapore on September 3.
Located in the Clarke Quay area along Merchant Road, the 203-key hotel was formerly known as Park Regis Singapore. It has undergone extensive refurbishment and now offers improved amenities such as complimentary high-speed Wi-Fi and 50-inch smart TVs with casting capability. The hotel has also made efforts to reduce its environmental impact, replacing single-use plastics with sustainable alternatives like water filters.
According to Alex Barnett, director of global brand and communications at Seibu Prince Hotels Worldwide, the hotel’s base room rates have increased following the refurbishment and rebranding exercise, with the basic nightly rate rising from $200 to $230.
Park Regis by Prince Singapore offers four room categories, ranging from 215 sq ft to 463 sq ft, catering to both business and leisure travelers in the mid- to high-tier range. This is the first Park Regis hotel to be rebranded under the Seibu Prince brand.
Seibu Holdings is one of the largest hospitality conglomerates in Japan, operating over 50 hotels, 25 hot spring facilities, and 28 golf courses. President and CEO Yoshiki Kaneda believes that there is a growing demand for Japanese-style hospitality in the luxury segment, and the group is uniquely positioned to fulfill this demand with over 80 years of experience in the industry.
Steven Tang, general manager of Park Regis by Prince Singapore, defines Japanese-style hospitality, or “omotenashi,” as anticipation, selflessness, and sincerity. The hotel has implemented digital room keys, a first for the hotel chain, to streamline the check-in process. Guests can now check-in through the hotel’s app and proceed directly to their rooms. The hotel also offers a variety of guest-centric features, including an AI chatbot that can assist with requests, provide flight updates, and offer recommendations for nearby attractions.
To meet the growing demand for Japanese-style hospitality, Seibu Prince has begun sending Japanese staff overseas to train local hotel staff. For example, The Prince Kitano New York, one of the group’s hotels in New York, has nearly 12% of its staff from Japan, including a team of master chefs.
The relaunch of Park Regis by Prince Singapore is part of Seibu Holdings’ efforts to expand its flagship Prince brand outside of Japan. In April, the company unified its three international subsidiaries under a single identity: Seibu Prince Hotels & Resorts. The group hopes to expand across Asia and Southeast Asia, with a focus on major cities like Singapore, Bangkok, Kuala Lumpur, and Jakarta.
The brand will debut in two more Southeast Asian countries next year with the opening of Park Regis by Prince Menteng in Indonesia and The Prince Akatoki Riverside Bangkok in Thailand. The group also recently opened its first property in continental US, The Prince Kitano New York, after a refresh of its 150 accommodations.
The group aims to expand its global portfolio of over 80 hotels to 250 by 2035, with a focus on 100 hotels within Japan and 150 internationally. Currently, the group operates over 50 hotels in Japan and 33 outside Japan across 11 countries, including China, Hawaii, Taiwan, Australia, and the UK.