Property consultancies Jones Lang LaSalle and Knight Frank are handling the expression of interest exercise, which is set to close on Oct. 1, Bloomberg reported, citing people familiar with the matter.

The 140-room hotel occupies leasehold land with a tenure running through the end of 2075. The indicative price is nearly double the hotel's valuation when Amara Holdings was taken private in 2025.

People enjoy the beach on Sentosa Island in Singapore on June 28, 2021. Photo by AFP

The move comes as parts of the holiday island face challenges, including its Resorts World casino complex and luxury residential market.

The tourism hub, whose beaches, upscale hotels and casinos draw millions of visitors annually, is also poised for a major revamp under a 20-year plan unveiled by the Sentosa Development Corporation in July.

Among the proposed developments are a transport hub connecting Sentosa to another island and a multi-purpose venue known as the Sensorium at Siloso Beach, which will feature lifestyle offerings and indoor attractions, The Straits Times reported.

Amara Holdings, founded in the 1930s initially as a construction business by the late Teo Teck Huat, today holds a portfolio that comprises hospitality, commercial and residential assets across cities including Bangkok and Shanghai, according to its website.

The group was listed on the Singapore Exchange in 1997 before being taken private last year by a consortium involving two prominent Singaporean families: the Teos, whose members are involved in the group's management; and the Chengs, who control local property developer Wing Tai Holdings.

The deal to take the group private valued it at about S$514.6 million, The Business Times reported at the time.