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The PropertyGuru chats with Royal Group Holding’s new Managing Director, Peter Wilding, and discovered – among other things – just what makes Singapore’s hospitality market tick.
Entering the Singapore headquarters of Royal Group Holdings on Philip Street, one is instantly taken in by its surroundings, which are befitting of the company name. The patterns are ornate, the furnishings opulent, and gold and black appear to be the interior’s main colour scheme. Even the coffee cups are Versace.
In stark contrast, Peter Wilding, the recently appointed Managing Director of the group, is unassuming and lacking in airs. Formerly the Executive Director of Mubadala Real Estate and Hospitality and Managing Director of Lend Lease, his career has taken him from his native Australia to the UAE and Asia. Still, he has retained a warm yet straightforward demeanour that is unmistakably Australian.
Despite having relocated to Singapore only in February this year to manage Royal Group’s regional portfolio, he is no stranger to the country. “I’ve been in Singapore off and on for almost 20 years, and my relationship with Andy (the group’s Chairman) is 20 years old.” He fondly recalls his first order of business here: the redevelopment of the old Promenade on Orchard Road.
Comparing his professional experience in Australia with that in Singapore, he says, “Every country I’ve worked in has its challenges. In Sydney, the concern tends to be about the cost of construction, whereas in Singapore, it’s the cost of land. We look at the different markets and find out what their main cost drivers are to see whether we can make a difference there.”
Wilding takes pride in Royal Group’s ability to recognise good opportunities and facilitate quick turnarounds, citing the Intercontinental Sydney Double Bay Hotel (his last major project in Australia prior to his move to Singapore) as an example. Before being launched under its current name, it was a hotel that had been distressed for seven years. Though there was talk of converting it into a residential development, the group wanted to retain its hospitality element, which many people thought was “a great idea, when in fact, we’d just re-established what was already there”. The entire process was complete in less than 18 months, and the hotel is doing well, consistently attracting guests both old and new.
The group also acquired the Singapore Resort & Spa Sentosa 12 months ago, with the goal of restoring its grandeur and “re-establishing what it was 20-odd years ago”. Already, its first phase was launched last month, with its final phase planned for an August 2015 launch.
This has no doubt made for a positive start to Wilding’s relocation to Singapore, in which Royal Group also owns the Royal at Chinatown, Royal at Lai Chun Yuen, and Sofitel So hotels. Despite the constantly climbing land costs, he is excited about the group’s prospects here. “The planning and banking guidelines are clear, so we can determine if an opportunity is for us in a very short time. The can-do attitude in Singapore is alive and well, which I like.”
He is optimistic about Royal Group’s future in these parts: “The next six months are about stabilising the portfolio, but we also have specific plans to double our room count over the next two years.”
The group’s primary markets are Sydney, Singapore and Malaysia (where it operates the DoubleTree by Hilton Hotel in Kuala Lumpur), and the trend in Singapore, he notes, are “staycations” taken by Singaporeans, who tend to opt for hotel packages as opposed to simply paying for one- to two-night accommodation. His response is telling of his professional enthusiasm: “We’re embracing that, and trying to give our guests a foreign feel without them having to leave Singapore.”
With a keen eye on key markets, the coveted combination of speed and efficiency, and an inherent enthusiasm to give guests experiences like no other, it seems Peter Wilding’s position behind the steering wheel at Royal Group Holdings will ensure the company remains a strong contender in the hospitality industry in Southeast Asia.
Image: Peter Wilding, Managing Director, Royal Group Holdings.
Article and images contributed by Cheryl Marie Tay.
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