A spokesperson for Singapore-listed Hotel Properties declined to comment. The firm has interests in more than 40 hotels across the globe including the Four Seasons in Singapore, as well as resorts in the Maldives.
The property firm of embattled billionaire Ong Beng Seng is looking to reduce its stakes in two marquee assets along Singapore’s Orchard Road shopping strip, according to people familiar with the matter.
Hotel Properties is in talks to sell majority stakes in the Forum shopping mall, as well as the voco Orchard hotel, according to the people, who asked not to be identified discussing private matters. The firm is seeking a deal that would value the two adjacent assets for at least $2 billion, they said.
