Business

New 'co-living hotel' opens in Chinatown with room rates from $60 to $200 a night

SINGAPORE – Catalist-listed food and beverage (F&B) player Katrina Group on Wednesday (Oct 9) unveiled a hotel in Chinatown through its hospitality arm, as the first in a new line of affordable co-living hotels in the Asia Pacific.

Now fully operational, ST Signature Chinatown features a proprietary smart Chat-In technology with a virtual host to provide concierge services. The multi-tasking chat platform also allows guests to check in and out efficiently, communicate online with fellow guests without disclosing personal information and buy e-tickets to tourist attractions.

Its 40 rooms are “intelligently designed” in interlocking S-shapes, making them spacious enough to be comfortable and yet compact enough to reduce the property’s carbon footprint and ensuring no square-inch is wasted, Katrina said. The design also provides pockets of space for co-working and networking.

Room rates at the Chinatown hotel range from $60 to $200 a night.

Katrina Group, which also owns and operates restaurants such as Bali Thai, Streats and So Pho, aims to become the largest co-living hotel brand in Singapore.

“We believe the co-living concept will continue to grow within the region, driven by the millennial demographic and with strong growth expected in the global business travel segment,” said Mr Alan Goh, Katrina’s executive chairman and chief executive officer.

While flat-sharing or shared housing has been popular among students and young professionals, what differentiates co-living spaces is that they are professionally managed, often offering benefits and services beyond accommodation.


The Chinatown hotel marks Katrina Group’s first major expansion since it entered the hospitality segment with its $358,000 acquisition of serviced residences provider Straits Organization in December last year. PHOTO: KATRINA GROUP

“The location and easy access to the Chinatown hotel make it an ideal choice for regular business travellers who want both convenience and luxury at an affordable price,” said chief host Ng Xin Fang, who runs the ST Signature line.

Four more co-living hotels in Singapore under the ST Signature brand will be rolled out within the next 12 months, including the flagship one in Tanjong Pagar, which will open its doors later in October, said Katrina Group.

The Chinatown hotel marks the group’s first major expansion since it entered the hospitality segment with its $358,000 acquisition of serviced residences provider Straits Organization in December last year.

Straits Organization has a portfolio of over 600 serviced apartment units in Singapore and Hong Kong under its ST Residences brand.

In August, Katrina sank into the red with a net loss of $2.1 million for the half-year ended June 30, compared to a net profit of $31,000 a year ago, amid higher expenses arising from the Straits Organization acquisition.

Its shares were flat at 16.4 cents as at 11.03am on Wednesday.

Source: Read Full Article