Rebrands to Travelodge Harbourfront Singapore
Finding future in hotel business, Datapulse Technology with interests in property and investment, has been investing in hotel assets across Asia.
Its latest and first venture in Singapore had been the acquisition of Bay Hotel at $235 million through consortium. Its share of the investment is $12.12m approx.
The wholly owned subsidiaries of the consortium entered into SPA (Sale and Purchase Agreement) with Fiesta Development and Bay Hotel & Resort for the acquisition.
The deal was worked out based on the fair market price determined by Knight Frank ($238 million), legalities taken care by TSMP Law Corpn., etc.
Swerving from original media storage products business (manufacturing and distribution), it diversified into property and investment.
Since then, it has been keen on possibilities like acquisition, lease, management or franchise yet rationale by offering limited services and thereby cost effective.
The acquired Bay Hotel located at 50 Telok Blangah has been rebranded and is being managed through international firm ‘Travelodge” which has operations worldwide and in Asia Pacific Region since 2014.
A Shareholders’ Agreement (SHA) has been signed by its wholly owned subsidiary, Datapulse Investment (DIPL) with PAM Holdings I (BVI) and PAM Holdings II (BVI).
These groups and their capital partners hold 5% and 95% of the share capital of the consortium respectively.
Strategically located as gateway to Sentosa, it is close to Harbourfront MRT station and Vivo City Mall.
Further, it is accessible to commercial areas like Harbourfront Centre, Alexandra Technopark, Mapletree Business City and Shenton Way.
With 319 rooms on freehold property, it has great potential for expansion, as believed by the consortium.
Stable income and capital appreciation are considered the logical basis for the investment, in line with the feelings of the hotel property market.