The US-North Korea summit on Tuesday (12 June) is expected to boost hotel room demand on Singapore’s Sentosa island and other nearby properties due to the limited number of accommodations at the main venue, reported Singapore Business Review.
The historic event will be held at Sentosa island’s five-star Capella Singapore, which features 112 guest rooms, including 15 suites, 38 villas and two heritage Colonial Manors designed by Lord Norman Foster.
Developed by Pontiac Land, the 30-acre luxury resort officially opened in 2009.
Given that the main summit venue only has 112 units, other hotels in the city are expected to accommodate most of the delegates, guests and personnel involved in the event, said JLL Hotels & Hospitality.
“The majority of the delegation will be staying at other hotels in Singapore. In that regard, the number of rooms may not be entirely relevant and it could be used as a staging ground for the heads of state, the various diplomats, security and the press.
“Singapore is a small city-state and while there is a wide range of hotels in Sentosa, it really depends on what type of security will be in place.”
Although Prime Minister Lee Hsien Loong revealed that Singapore will be forking out about $20 million for the event, experts said the historic summit is anticipated to bring positive benefits to the city-state’s hospitality sector just like the spending for the Singapore Formula 1 Grand Prix.
“On the flipside, the summit is extraordinary publicity for the country and the hotel as Singapore and the Capella will make history,” noted JLL.
“On the whole, it does elevate the awareness of Sentosa globally,” noted Alan Cheong, senior director of research & consultancy at Savills Singapore.