Tuan Sing eyes expansion in Aussie hotel market
by Cheryl Tay
Tuan Sing Holdings, which holds a 50 percent stake in two Australian hotels, is looking to expand its presence in Australia's hotel market, as well as in other countries.
"We're open to acquisitions of existing hotels as well as developing new ones," said William Liem, Chief Executive Officer of Tuan Sing.
Tuan Sing also plans to expand in China, Singapore and Indonesia. The group intends to become "a real property developer" by creating investment opportunities in the office, retail and residential markets and real estate development across the three countries.
The company's interest in having a bigger presence in Australia's hotel sector is strengthened by its half stake in Grand Hyatt Melbourne (pictured) and Hyatt Regency Perth, which are owned by Grand Hotel Group (GHG).
"In addition, the Perth property has significant redevelopment opportunity with potential for more than 500,000 sq ft of additional gross floor area (GFA) that can be built," said Liem.
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