A new 512-room hotel will rise on the former Hotel Phoenix and Specialists' Centre site along Somerset Road/Orchard Road, according to The Business Times. It will be managed by the Shangri-La group under the Traders brand and will be the second Traders hotel in Singapore after the one at Cuscaden Road.
The upcoming hotel is part of a 20-storey mixed development that features a retail mall and is set for completion next year.
Designed by Tange Associates, the project is named Orchard Gateway and is currently being developed by United Engineers (UE), appointed by OCBC in 2010 to build the project through an arrangement that retains the bank's ownership of the property when the redevelopment is completed.
The project will be linked to an 11-storey office-retail project, dubbed the Orchard Gateway@Emerald, via a glass pedestrian bridge and an underpass. Both sites will be managed by UE.
Traders is Shangri-La Hotels and Resorts' four-star brand.
"Demand for hotels in the four-star and business segments will remain fairly resilient despite the global economic slowdown — compared with upscale/luxury hotels — as corporations and travellers become more cost-conscious," said Donald Han, Vice Chairman at Cushman & Wakefield Singapore. Related Stories: New lifestyle hub planned for Punggol
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