Straits Trading made its maiden foray into the hospitality industry in early 1993, acquiring its first hospitality asset, the Radisson Observation City Hotel (now known as Rendezvous Grand Hotel Perth) in Perth, Western Australia and subsequently built its flagship hotel, the 305-room business-class Hotel Rendezvous Singapore (now known as Rendezvous Hotel Singapore) in 1997. The Group's hospitality division, eventually grew to a network of 13 hotels strategically located in key destinations across Asia Pacific including Singapore, Shanghai, Sydney, Melbourne, Perth, Brisbane, Adelaide, Port Douglas, Auckland and Christchurch.
In 2013, through a series of transactions, Straits Trading unlocked value from its hospitality assets and successfully transformed its hospitality division into a 30% strategic investment in Far East Hospitality Holdings Pte. Ltd., a scalable and sustainable hospitality platform.
FAR EAST HOSPITALITY HOLDINGS PTE.LTD.
Far East Hospitality Holdings ("FEHH") is a 30/70 hospitality joint venture between Straits Trading and Far East Orchard Limited ("FEOrchard"). In August 2013, FEHH completed a separate 50-50 joint venture with Australia's Toga Pty Ltd, one of the leading accommodation providers in Australia. FEHH became fully operational in November 2013 and comprises 80 properties with over 13,000 rooms under management across 25 locations.
With a global footprint spanning Australia, China, Denmark, Germany, Hungary, Malaysia, New Zealand and Singapore; and nine unique and complementary brands, FEHH is poised to tap into multiple geographic and market segments, offering guests a greater diversity of choices and locations for their hospitality needs.
For more information on FEHH, please visit www.stayfareast.com.sg
AN INTEGRATED HOSPITALITY PLATFORM WITH SCALE FOR FUTURE EXPANSION
Straits Trading's hospitality operations have now been transformed from a wholly-owned portfolio of 13 hotels with almost 3,000 rooms into a scalable hospitality platform comprising 80 properties with over 13,000 rooms under management across 25 locations. In leveraging upon the unique strengths and resources of this integrated platform, with its larger scale, stronger management competencies and robust financial backing, we now have the capabilities to seize a wider spectrum of growth opportunities and pursue more value accretive investments in the hospitality sector in Asia Pacific.