At a glance
- The reported price exceeds S$260 million, or more than S$1.94 million per room, according to EdgeProp.[1]
Reported transaction
EdgeProp’s 2 November report identifies Sunray Singapore as the seller of the conserved CBD hotel. Sunray executive director Charles Tan declined to confirm the buyer’s identity or transaction price, citing a non-disclosure agreement.[1]
The property has about 45 years remaining on a 60-year lease that began in 2011. Tan told EdgeProp the transaction was negotiated directly between buyer and seller.[1]
Repositioned heritage asset
Sunray acquired the property as Hotel Telegraph in October 2023 for an estimated S$170 million to S$180 million. It spent S$15 million on renovations before reopening the hotel under the QT brand in September 2024.[1]
Tan reported occupancy of around 90% and average daily room rates above S$400 since reopening. Those operating figures are attributed to the seller.[1]
Why it matters
The price remains a reported figure rather than a publicly confirmed consideration. A comparison with the earlier purchase price alone cannot establish the seller’s net investment return.
Sources & further reading
- Sunray sells QT Singapore heritage hotel to family office for over $260 mil ↗EdgeProp Singapore · 2 Nov 2026 · Accessed 4 Nov 2026
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