Le Meridien Singapore on Sentosa put up for sale again
Le Meridien Singapore, Sentosa, formerly known as Movenpick Heritage Hotel Sentosa, has been put on the market for the second time in two years.
The Straits Times understands that the five-star hotel came under the management of professional services firm PwC Singapore about a month ago.
According to a newspaper advertisement published yesterday, interested parties are invited to bid for the five-star hotel's business and assets on Sentosa.
All bids will be kept private and confidential, said the ad. The closing date for submission is 5pm on June 4.
When contacted yesterday, PwC did not respond to queries on why it is managing the property and whether it is under judicial management or winding up proceedings.
It also did not respond to queries on how much the sellers hope to get from the sale.
Le Meridien Singapore, Sentosa, was owned by Treasure Resort, which is majority-owned by Mr Rodney Tan and his family. Mr Tan and his family are understood to have acquired the majority stake in Treasure Resort in June 2007.
Mr Tan did not respond to calls by ST yesterday.
In 2010, Mr Tan and his wife, Chris, started Movenpick Heritage Hotel Sentosa. The hotel was rebranded from Movenpick to Le Meridien, a brand of Starwood that took over management of the hotel, in June 2016. Shortly after, the hotel was put on the market for $300 million.
Under the Urban Redevelopment Authority's Master Plan 2014, Le Meridien is in a conservation area with hotel use. It has a land area of nearly 101,600 sq ft, and its gross floor area is nearly 144,000 sq ft.
The 191-room property is on a site with a balance lease term of about 57 years.