HOTEL DEVELOPMENT IN SINGAPORE (1964 TO 1973)

Abstract

Hotels are a specialised category of real estate. Interest in hotel investments has been growing in the Republic within recent years. It is the purpose of this dissertation to present a concise, cogent, technical and understandable exposition of the principles and practices in the hotel industry as applicable locally. It is written primarily with the aim of allowing the reader to have a greater awareness of the impact of the hotel industry in the field of real estate on all levels of society. The subject of the hotel industry covers an immense spectrum, but the author has confined himself to a few topics, as any detailed discussion on the others would be beyond the scope of this study. The first part of the dissertation deals with the local hotel industry in general and with the factual position re hotel construction from 1964 to 1973. The second part concentrates on (hotel as a real estate investment) Government's policy and participation in hotel investment and some observations regarding hotel development in Singapore. The final part of the dissertation deals with the Restate management aspects of hotel,)and includes details on hotel assessment for property tax purpose. The author in this dissertation does not attempt to- test any hypothesis, nor prove any theory. Rather it is a report of findings from investigations carried out through research, interviews, observations, surveys and from data obtained from the relevant authorities. Publications pertaining to hotel development in Singapore are limited in number, except for those produced by the Singapore Tourist Promotion Board in the form of the Annual Statistical Reports on Visitors, STPB's Annual Reports, and some occassional research studies. However, press cuttings catalogued by the Reference Section of the University of Singapore's Library have been most useful in eliciting a trend of hotel development locally, though the author has to verify the authenticity of the statements on several occassions with governmental bodies, firms and hoteliers. Most government departments are co-operative and render their kind assistance, but within the limits of restrictions on classified informations. Hence the author had to agree to reveal information in statistical tabulation as actual figures (which may present a clearer perspective) could not be divulged. Interviews with leading hotel management personnel prove to be enlightening and give an 'on the scene' picture of the hotel industry. Good textbooks on the hotel industry in general are rare, but a study done by the Economic Development Committee of the United Kingdom on the Hotel and Catering Industry in Britain, is most comprehensive. Reports of Seminars and Workshops are of great help. The last chapter on Property Taxation relies heavily on the author's experience as a student trainee since 1970 in the Property Tax Division of Singapore's Inland Revenue Department and on basic valuation textbooks. Finally, the author hopes that this dissertation would be useful in enlightening the reader on the current situation in respect of the local hotel industry.