The hotel buyer, Lotus One Investment, is a family office established by Chandra P. Khetan in Singapore in 2016. He is the son of Mohan G. Ktan, one of the late wealthiest industrialists in Nepal. Khetan is a diversified group enterprise with busine...
The hotel buyer, Lotus One Investment, is a family office established by Chandra P. Khetan in Singapore in 2016. He is the son of Mohan G. Ktan, one of the late wealthiest industrialists in Nepal. Khetan is a diversified group enterprise with business areas covering banking, insurance, telecommunications, IT, real estate, energy and beverages.
Duxton Reserve is a brand under Marriott International's Autograph Collection. It is located in a row of retained traditional shop houses and designed by British designer Anouska Hempel. According to the agreement, Garcha Group will continue to be responsible for hotel management to ensure smooth handover.
JLL Hotels & Hospitality Group, which is responsible for marketing, issued a statement announcing the news on Friday (May 16).
Garcha Group will sell Duxton Reserve Singapore, a luxury boutique hotel in the Tanjong Pagar area, to Lotus One Investment Group for RMB 80 million. The hotel has 49 rooms, and the price is equivalent to RMB 1.63 million per room.
Chen Lingwei, senior vice president of the Hotel and Tourism Real Estate Division of JLL, said that the project has attracted strong attention due to its high quality and uniqueness, highlighting the market attractiveness of boutique storehouse renovation assets in terms of capital appreciation and stable returns.
