{
  "id": 19557605,
  "title": "Singapore’s first Moxy hotel to open at former Novotel building in Clarke Quay in 2027",
  "url": "https://urgent.news/2026/11/11/singapores-first-moxy-hotel-to-open-at-former-novotel-building-in",
  "topic": "culture",
  "section": "Culture",
  "published": "2026-11-11T22:00:00.000Z",
  "source": {
    "name": "Straits Times Business",
    "slug": "straits-times-business",
    "url": "https://www.straitstimes.com/business/singapores-first-moxy-hotel-to-open-at-former-novotel-building-in-clarke-quay-in-2027"
  },
  "original_language": "en",
  "account": "Marriott International is set to open its first Moxy hotel in Singapore at the former Novotel Clarke Quay location in 2027. The 21-story, 475-room hotel is part of the Canning Hill Piers development, which is being built on the former Liang Court site. CDL Hospitality Trust, the hotel's developer, plans to acquire the hotel for $474.6 million, completing the transaction upon opening.\n\nIn a separate announcement, CDLHT also decided to raise its dividend payouts from 90% to 100% of distributable income, beginning with the six-month period from July 1 to December 31, 2025. The Canning Hill Piers development is being created by a partnership between CapitaLand Development, City Developments Limited, and Ascott Residence Trust.\n\nMarriott's Moxy brand, known for its compact rooms and lively communal spaces, will feature a rooftop pool and restaurant with views of Marina Bay. Rooms will range in size from 17 to 27 square meters, with views of the Singapore River, Fort Canning Park, or the city skyline. The hotel will also offer shops and dining outlets, connected to the Fort Canning MRT station via an underground walkway.\n\nFollowing the acquisition, CDLHT's room count in Singapore will increase by 19%, reaching approximately 3,030 rooms, and its global portfolio will rise by 10% to 5,399 rooms. Singapore is projected to account for about 67% of the trust's portfolio value after the deal, up from 62% as of the end of 2025.\n\nThe acquisition is expected to benefit CDLHT's investors, as the hotel's net property income is estimated to reach around 4.8% of the purchase price once operations stabilize. The estimated purchase price for the hotel, excluding fees, is $468.8 million, or 5.7% below Knight Frank's October valuation of $497 million. CDLHT plans to raise about $148.8 million from existing investors through a preferential offering, with the offer closing on December 1, 2025.",
  "summary": "Separately, CDL Hospitality Trusts said it will raise its payout ratio from 90% to 100% of distributable income.",
  "key_points": [
    "Marriott International to open first Moxy hotel in Singapore in 2027",
    "475-room hotel part of Canning Hill Piers development",
    "CDLHT to raise dividend payouts to 100% of distributable income"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}