Tuan Sing Holdings Limited recently announced that its indirect wholly-owned subsidiary, HR Operations Pty Ltd, has entered into a deed of termination and release with Hyatt of Australia Limited and Hyatt Services Australia Pty Limited for the termination of the management of Hyatt Regency in Perth, Western Australia. Hyatt Regency Perth will cease to be a Hyatt-managed hotel on 31 August 2024. The property will be re-positioned and rebranded following the termination of the hotel management agreements.
This is part of Tuan Sing’s long-term strategy to expand its hospitality business which currently includes the Grand Hyatt Melbourne and its recently announced acquisition of Fraser Residence River Promenade, a newly completed mixed-use property in a prime location in Singapore featuring serviced apartment units and F&B offerings. The hospitality portfolio will be further expanded upon the completion of the Opus Bay project in Batam, Indonesia, an integrated township currently under development that includes hospitality components.
