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Set Up a Hotel in Singapore

Set Up a Hotel in Singapore

The Singapore tourism industry registered spectacular growth beginning in 2010 and together with it also flourished the hotel industry. Ever since the hotel and the restaurant sectors registered an 8% growth. Also, in 2015 the number of tourists coming to Singapore reached a record number of 17 million which was a great year for the hotel industry. The most successful branches of the industry are represented by luxury, boutique, and mid-range hotels which cover the expectations of tourists traveling for leisure or business purposes.

For professional company formation services in the city-state, you can refer to our specialists in company formation in Singapore. Also, we invite you to watch our concise presentation on how to open a company in Singapore in the hotel industry.

How to open a hotel in Singapore in 2024?

The first step to set up a hotel in Singapore in 2024 is to register a company which requires assistance from specialists in company registration. Our local agents can help you by preparing and filing the documentation with the Accounting and Corporate Regulatory Authority in the city-state. Once this procedure is completed, one must obtain a Hotel-Keeper’s License which is regulated by the Singapore Hotel Act. The special license is obtained with the Hotels Licensing Board in the city-state.

Applying for a Hotel-Keeper’s License in Singapore – a procedure explained by our experts in opening companies in Singapore

Prior to applying for the permit to run a hotel, the owner must obtain the following:

  • approval from the Urban Redevelopment Authority of Singapore for the premises;
  • clearance with the National Environment Agency;
  • clearance from the Fire Safety Department;
  • clearance from the Building Construction Authority.

The owner must advertise the opening of the Singapore hotel with two local papers. One of the ads must be in English and the other in Chinese.

The documents required to obtain the Hotel-Keeper’s License in 2024 are:

  • the documents issued by the authorities mentioned above;
  • the hotel-keeper’s resume;
  • a letter containing the hotel’s estimate opening date;
  • copies after the published adds;
  • the receipt issued after paying the licensing fee.

The license is usually issued within three weeks and has a one-year validity period. Foreign investors opening hotels in Singapore must know that depending on the types of activities they want to provide, other licenses for playing music or for restaurants must be obtained. Those wanting to offer additional services, such as spas must also apply for a Massage Establishment License.

Singapore’s tourism sector registers strong recovery in 2023

According to the Singapore Tourism Board, tourism recorded a good performance in 2023. The latest report issued at the beginning of 2024, indicates that:

  • international tourist arrivals reached 13.6 million, meeting the Board’s predictions;
  • tourism receipts reached between SGD 24.5 billion and SGD 26 billion, surpassing expectations;
  • the average duration of stay in 2023 reached 3.8 days.

With respect to hotel occupancy rates, data indicates that:

  • the average room rate and revenue per room were approximately SGD 282, respectively SGD 226;
  • the average occupancy rate was 80.1%.

For complete information about all the requirements to open a company in Singapore in the hotel industry, do not hesitate to contact our local company formation consultants.