Singapore, November 2025 — In a landmark deal valued at S$160 million, Aravest, Hilton (NYSE: HLT), and Wee Hur Property Pte. Ltd., a subsidiary of Wee Hur Holdings Ltd. (SGX: E3B), have joined forces to reimagine the iconic Hotel Miramar along Robertson Quay into the DoubleTree by Hilton Singapore Robertson Quay. Scheduled to open in 2026, the 344-key riverfront hotel will mark DoubleTree by Hilton’s official debut in Singapore, introducing the brand’s globally recognised warmth and signature hospitality to one of Asia Pacific’s most vibrant lifestyle precincts.

A Strategic S$160 Million Acquisition

The consortium’s acquisition of Hotel Miramar was completed at approximately S$465,000 per key, based on the property’s 344 rooms. With around 41 years remaining on its 99-year lease that began in 1968, the transaction reflects a balanced play between land tenure and long-term income potential. Rather than a full redevelopment, the partnership will undertake a comprehensive refurbishment and brand conversion — a move expected to shorten the repositioning timeline and reduce redevelopment risk.

According to Aravest, this investment aligns with its hospitality real estate and asset-management strategy, which focuses on value-add opportunities in key gateway cities. The firm cited the hotel’s riverfront location, strong connectivity, and inherent brand upgrade potential as core drivers of the acquisition.

DoubleTree by Hilton: Global Comfort, Local Warmth

DoubleTree by Hilton sits in the upscale full-service tier of Hilton’s brand portfolio, known for its contemporary comfort, thoughtful amenities, and personal service — including its famous signature chocolate chip cookie welcome. With more than 700 hotels worldwide, DoubleTree caters to both business and leisure travellers, emphasising convenience and warmth.

The Singapore property will feature modernised rooms averaging 26 square metres, refreshed F&B concepts, and updated event facilities, all designed to reflect the brand’s hallmark blend of comfort and connection. As part of the Hilton Honors network, the hotel will also tap into a global loyalty base exceeding 180 million members, positioning it strongly in Singapore’s competitive hospitality market.

Industry analysts note that average daily rates (ADR) for similar rebranded properties in the city can rise from about S$170–180 to S$230–250 post-conversion, underscoring the potential uplift in revenue performance.

Wee Hur and Aravest: Expanding Horizons

For Wee Hur Holdings, a long-established name in Singapore’s construction and property development scene, this partnership represents its maiden hospitality investment. The move is part of the group’s ongoing diversification into multi-asset investments, which already include education and student accommodation assets.

Aravest, meanwhile, continues to build its presence across Asia Pacific following its carve-out from ARA’s private funds business. Backed by SMFL Mirai Partners of Japan, the company’s approach favours strategic conversions and operational repositioning — a model demonstrated by this Singapore project.

A Revitalised Robertson Quay Landmark

Once complete in 2026, DoubleTree by Hilton Singapore Robertson Quay is expected to enhance the precinct’s riverfront hospitality offering, blending heritage charm with modern design. The collaboration symbolises the intersection of global brand expertise, local development capability, and forward-looking investment strategy — a timely example of confidence in Singapore’s hotel and tourism market resurgence.

About the Partners:

• Hilton (NYSE: HLT) is one of the world’s leading hospitality companies with a portfolio of 22 brands and more than 7,500 properties across 126 countries.

• Aravest Pte Ltd is a hospitality-focused investment and asset-management firm active across Asia Pacific.

• Wee Hur Holdings Ltd. (SGX: E3B) is a Singapore-based builder and developer established in 1980, with growing investments in education, hospitality, and property development.