Short rental cycles resulting in 'hit-and-run' business practices, says IndoChine boss

Singapore

MICHAEL Ma, founder of the IndoChine group of hotels, eateries and clubs, has been vocal about his dismay at the decision made by Gardens by the Bay not to renew the IndoChine Supertree lease.

The terms on the lease agreement signed was what is known in the industry as "three-plus-three". IndoChine was given an initial lease of three years in 2012, which was then renewed for another three years in 2015.

A spokesman for Gardens by the Bay said in an email response: "We thank Indochine for offering visitors a unique dining experience over the years. The official tenancy period for Indochine was for a 3+3 year period, starting 24 September…