THE 49 room Berjaya Hotel in Duxton Road has been sold for $50 million, pricing the asset at slightly over $1.02 million per room. The asset comprises eight adjoining conservation shophouses, all three storeys high with a loft, sitting on land with a balance lease tenure of about 74 years. The buyer is believed to be Satinder Garcha s Elevation Group. The shophouses are being sold on vacant ...

FOOD Empire posted an 11.1 per cent year on year increase in first quarter net profit to US$5.6 million on the back of higher average selling prices of its products and revenue. The food and beverage company attributed the profit growth to a change in its business model in Russia, from a third party distributor model to a direct sales model. Revenue for the first quarter ended March 31, 2013, ...

THE Restaurant Association of Singapore (RAS) has urged food services companies to work with food manufacturers and suppliers to outsource food preparation and production, and cut down on manpower costs.The cost of manpower will definitely keep escalating, so you have to look into outsourcing, said Andrew Tjioe, president of the 300 member RAS.Adding that many services of food manufacturers and ...

BANYAN Tree Holdings reported a 19 per cent rise in first quarter net profit to $14.2 million from $12 million last year, boosted by the sale of the Angsana Velavaru hotel in the Maldives, and higher revenue from its hotel investments unit and the fee based business. Earnings per share, in turn, rose to 1.87 cents from 1.58 cents a year ago. Revenue for the three months ended March 31, 2013, rose ...

May 9 close S$0.99 OCBC Investment Research, May 9 BREADTALK s Q1 results came in within expectations with revenue growing 13.4 per cent y o y to $120.3 million on the back of broad segment increases, while operating and Patmi (profit after tax and minority interests) increased by 45.6 per cent and 46.0 per cent to $3.5 million and $2.1 million respectively. In ...

THE new Ramada Singapore hotel in Balestier aims to have business travellers beating a path to its door once it opens for business on May 18. General manager Tony Cousens expects corporate travellers to make up about 60 per cent of Ramada s guests. We re looking for the mid scale, three and four star, value conscious travellers in the market, where most of the growth has been in the five star ...

BREADTALK Group s net profit for the fiscal first quarter ended March 31, 2013, rose 14.9 per cent to $1.62 million from $1.41 million a year earlier.Broad based growth across all business segments helped the local bakery, restaurant and food court operator post record revenue of $120.28 million, a 13.4 per cent increase from $106.10 million a year ago.Earnings per share for the quarter rose to ...

Restaurant Andre in Bukit Pasoh has clinched top honours at this year s G Restaurant Awards, put out by high society magazine The Peak. The nouvelle French restaurant was named Restaurant Of The Year 2013. The win comes soon after its recent 38th placing on the World s 50 Best Restaurants list, announced in London two weeks ago. It is the only restaurant here in the top 50 this year. Chef ...

RUNNING his family owned hotel chain never crossed the mind of 33 year old Park Hotel Group chief executive Allen Law. He had wanted to chart his own course and become an entrepreneur. But as fate would have it, his father, Mr Law Kar Po, tasked him when he was fresh out of university in 2003 to run a hotel which the family business had just acquired. In the last decade, the younger Mr Law ...

YOU could say that the Jumbo group which runs various eateries, including the well known Jumbo Seafood chain takes a jumbo sized approach to delivering good service. But even after refining service standards among staff, chief executive Ang Kiam Meng still felt that something more had to be done to up the group s game. We had come to the point where what can be done has been done. We reckoned ...

THE hospitality and recreational service sector may be struggling to attract talent, but it is still Singapore s most attractive category to work in, according to a survey of 4,500 employees. This is the second year the sector has taken the top spot in the annual Randstad Award survey. The transport and logistics sector comes in second, with banking and financial services in third place. Results ...

OCBC Investment Research, April 23 WE HAVE analysed the relationship between the y o y change in average revenue per available room (RevPAR) and y o y change in average tourism receipts per visitor arrival for 2001 12. In general, the signs of both are the same for the same year, with change in RevPAR being of larger magnitude than the change in average tourism receipts. 2012 was ...

NEW RESTAURANT Bacchanalia23A Coleman StreetTel 6509 1454Open for dinner only from Tuesday to Friday from 6pm to 1am. Saturday and Sunday 11am to 5pm IT references the God of Wine and sits in the headquarters of secretive men who won t let women join their mediaeval frat club. Maybe that s why Bacchanalia ...

A LOCAL start up that allows diners to make restaurant reservations online has received $3.2 million in funding. Chope, as the firm is called, will use the money to expand its business across Asia and hire more programmers and engineers, said its chief executive and founder Arrif Ziaudeen. To chope a seat, meaning to reserve, is commonly used in Singapore lingo. The funding was led by Singapore ...

March 18 close S$2.11 OCBC Investment Research, March 18 WE believe that CDLHT s Singapore hotels are best classified as being in the mid tier/upscale range, because their FY12 RevPar (revenue per available room) was S$211, close to the mean of S$264 and S$171, which are the RevPar averages for Singapore upscale and mid tier hotels respectively. As detailed in ...