Nepal Based Lotus One Investment Buys the Duxton Reserve Hotel in Singapore and Eyes Hotel Properties in Bangkok Next

Bangkok Hotel News: Nepalese Tycoon’s Bold Foray into Southeast Asia’s Luxury Hotel Scene – Duxton Reserve in Singapore Snapped Up for SGD 80 Million as Bangkok Becomes the Next Target

In a bold and strategic move that’s sending ripples through Southeast Asia’s luxury hospitality investment landscape, Singapore’s iconic Duxton Reserve hotel has just changed hands in an SGD 80 million (USD 59 million) deal. The buyer? Lotus One Investment Pte Ltd, the Singapore-based arm of Nepalese tycoon Chandra P. Khetan’s family office.

The acquisition, which values the 49-key property at approximately SGD 1.63 million per room, marks a significant milestone for the investment arm of the Khetan dynasty. This Bangkok Hotel News report confirms that the deal signals not just a high-profile property transfer, but also a growing appetite for culturally significant, architecturally rich boutique hotels by private investment groups. And insiders say Bangkok is next on the radar.

A Family Legacy with Global Ambitions

Lotus One Investment is the investment arm of Lotus Singapore, the family office founded in 2016 by Chandra P. Khetan — the son of the late Mohan G. Khetan, one of Nepal’s most prominent industrialists whose diversified holdings span banking, insurance, telecoms, real estate, energy, and beverages. Now a Singapore resident, Chandra also launched the philanthropic Lotus Life Foundation alongside the investment office, signaling a strong focus on social responsibility and legacy building.

Lotus One’s acquisition of the Duxton Reserve was brokered by JLL Hotels & Hospitality Group, while investment advisory firm Lighthouse Canton acted as the group’s strategic advisor, identifying the hotel as a rare asset aligned with their values. The boutique property occupies eight restored colonial-era shophouses in the heart of Tanjong Pagar and operates under Marriott International’s prestigious Autograph Collection banner.

The Jewel of Duxton Road

Originally acquired in 2013 by Satinder Garcha of the Garcha Group — a prominent figure in Singapore’s business and polo circles — the hotel was transformed from the former Berjaya Hotel into one of the most distinctive boutique addresses in the city. Garcha enlisted celebrated British designer Anouska Hempel to craft a visually arresting interior, rooted in a black-and-gold color scheme and a dramatic blend of heritage and modern design.

“Duxton Reserve has been a defining project for us,” Garcha stated, reflecting on a decade of investment in heritage conservation and curated hospitality. “We’re proud of what we’ve built and excited to now shift our focus to expanding the Garcha brand into new markets through innovative collaborations.”

Garcha, alongside co-founder and legal powerhouse Harpreet Kaur Bedi, is known for acquiring heritage properties and revitalizing them into design-led luxury hotels. Their other major property, the Maxwell Reserve, is also housed in a conservation building and part of the Marriott Autograph Collection.

A Surge in Demand for Heritage Boutique Hotels

According to Ling Wei Tan, Senior Vice President at JLL Hotels & Hospitality Group, the Duxton Reserve received “overwhelming interest” since being listed in October 2024. “Its unique blend of historic charm and luxury appeal made it highly attractive to a niche class of investors seeking capital appreciation coupled with strong brand potential,” she noted.

Indeed, shophouse-conversion boutique hotels in central Singapore have become a magnet for high-net-worth individuals and family offices, particularly those who value the dual allure of cultural preservation and commercial gain.

The Duxton Reserve’s continued management by the Garcha Group ensures a seamless transition and operational consistency. This continuity was a key consideration in the sale agreement, according to both parties.

Lotus One’s Investment Strategy and Why Bangkok is Next

For Lotus One Investment, this purchase is just the beginning of a broader play in Southeast Asia’s luxury hospitality scene. “This acquisition is more than just a real estate deal — it’s a meaningful commitment to preserving the architectural and cultural identity of Southeast Asia’s urban landscapes,” said Nirmal Singh, Director of Lotus One Investment.

Lotus One Investment believes the heritage hospitality space offers untapped potential, especially in cities like Bangkok, where history and modernity intersect so vibrantly. Their strategy is values-driven, focused on sustainability, cultural authenticity, and long-term stewardship.

Insiders suggest that Lotus One is already eyeing a series of boutique hotel assets in Bangkok, particularly in the historic districts of Phra Nakhon, Bang Rak, and Charoenkrung — areas ripe for redevelopment yet rich in cultural heritage. Given their track record and deep pockets, industry observers are closely watching their next move.

Advisory Synergy and Global Outlook

The deal was also a showcase of high-level advisory synergy. Lighthouse Canton, which guided Lotus One through the acquisition, played a pivotal role in identifying the Duxton Reserve as a culturally aligned investment. “We’re committed to helping our clients find and secure meaningful investment opportunities that also support broader goals of legacy, identity, and sustainability,” said Amrit Singh, Board Member and Global Head at Lighthouse Canton.

Their involvement underscores how family offices, once focused purely on wealth preservation, are increasingly leaning into thematic investments that combine social value with financial returns.

More to Come for Southeast Asia’s Hospitality Scene

This landmark transaction underscores a broader trend reshaping Southeast Asia’s luxury hotel investment landscape. Boutique properties with a compelling narrative — particularly those housed in heritage buildings — are now seen as trophy assets by global investors and family offices.

Singapore’s shophouse hotels are merely the beginning. As urban centers like Bangkok, Ho Chi Minh City, and Jakarta expand and evolve, the demand for culturally rooted, experience-driven hospitality concepts is set to soar. Lotus One Investment’s acquisition of Duxton Reserve may well be a harbinger of what’s to come.

The firm’s vision — marrying profit with preservation — offers a blueprint for a new era of hospitality investment. As the region emerges from post-pandemic economic recalibration, capital is once again flowing into the travel and hospitality sectors. But this time, it’s smarter, more selective, and more purpose-driven.

And if the whispers from Bangkok’s Sukhumvit and Old Town districts are any indication, Lotus One’s next big headline may be closer than we think.

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