Ong Beng Seng’s hospitality firm, Hotel Properties Limited (HPL), has obtained approval to redevelop its Orchard Road properties. The redevelopment aims to rejuvenate the iconic shopping precinct, integrating retail, hospitality, and lifestyle offerings. This move reflects HPL’s commitment to enhancing Singapore’s tourism landscape while creating a vibrant destination for locals and visitors alike. The redevelopment is set to redefine Orchard Road’s allure and cement its status as a premier shopping and lifestyle destination.
Singapore-based hospitality company, Hotel Properties Limited (HPL), has reported a significant loss of $17.2 million for the first half of the financial year 2023. The company, owned by prominent businessman Ong Beng Seng, attributes this decline to ongoing challenges in the global tourism industry caused by the COVID-19 pandemic. Despite the setback, HPL remains optimistic about the future, emphasizing their commitment to adapt and recover as travel restrictions ease.