Friday, March 25, 2011

Hotel Call Spot On! I Feel Extremely Blessed!

Hi Guys and Gals! I feel extremely blessed. Our Prime Centre site is primed to be a hotel. Even before we start work, the valuation for the property has sky rocketed. We have been offered sums exceeding our purchase price that is extremely tempting. There seems to be a lot of interest in the hotel sector, and it is little wonder given that Singapore hotels’ occupancy and room rates have gone over the top.

*Information taken from The Business Times, 8th November 2010, "ERC Snaps Up Prime Centre for S$103m"

When I first considered he purchase, I was analyzing tourist visitor growth and room rates. I came to the conclusion that this sector will be enjoying very good times. Singapore’s hotel infrastructure historically has been able to cater to 700 to 800 hundred thousand tourists. With visitor arrivals hovering at the million mark, and growing, well it does not take a genius to figure what is going to happen. I am now planning our next move. I love my job!

For those of you who are new to us, ERC specializes in grooming new entrepreneurs. We are a Incubator Development Partner of Spring Singapore. This is my first love as I believe that starting your own business is the first key to personal success. I have just started another blog discussing how I actually groom new enterprises and manage my businesses. Many of you have requested that I share with you this aspect so I thought the most convenient platform is to start another blog. Follow this link, My Business Sense

I will be very busy teaching my second last property class which has been over-subscribed. I look forward to not teaching for a while.Till the next blog, have a great weekend.

Your Friend,
Andy Ong