According to Richard Goddard, Senior Vice President of Jones Lang LaSalle Hotels, Singapore,  �In an environment where more hotels are being redeveloped for residential use, this offering will be unique in the market as the only hotel in Singapore for sale as a going concern.  Most experts agree that hotels are poised at the beginning of a strong recovery in revenues and profits, and we expect to receive considerable interest from both the local and international investment audience.

�The property has established itself in the dynamic regional and international leisure market, where occupancies are soaring, particularly as supply in this sector is now back to 1987 levels,� added Goddard.

Located near the Central Business District, the New Park Centra Hotel Singapore is a freehold property with 531 rooms, extensive food and beverage and function facilities, as well as 15,000 square feet of retail space. 

Hotel Plaza Ltd. is selling the asset since it currently owns three hotels in Singapore and some interests in Marina Centre Hotels. The sale proceeds will go toward diversifying the Group�s interest into other markets across the region.

Jones Lang LaSalle Hotels, the leading hotel investment banking services group in the world, provides clients with value-added investment opportunities and advice.  Its recent two-year success story includes the sale of 17,027 hotel rooms to the value of $2.2 billion in 75 cities and advisory expertise for 200,036 rooms to the value of $29.8 billion across 278 cities. 

Jones Lang LaSalle Hotels� services include transactions, mergers and acquisitions, financial advice and capital raising, valuation and appraisal, asset management, strategic planning, operator assessment and selection and industry research.  Jones Lang LaSalle (NYSE: JLL) is the world�s leading real estate services and investment management firm, operating across more than 100 key markets on five continents.