PHNOM PENH, July 18 (Xinhua) -- Kingdom Hotel Investments (KHI), a company controlled by Saudi billionaire Prince Alwaleed Bin Talal, has purchased the historic Raffles Hotel Le Royal in Phnom Penh and Raffles Grand Hotel d'Angkor in Siem Reap for a total of 35 million U.S. dollars, local media said Wednesday.
The two landmark hotels, built more than 70 years ago, will retain their names and continue to be managed by Raffles Hotels and Resorts, Beddy Suryana, front office manager of the Grand, was quoted by the Cambodia Daily as saying.
"Cambodia is an exciting new market for KHI. Demand for hotel accommodation in the region has grown significantly in recent years, and Cambodia has benefited from increasing tourism," Prince Alwaleed said in a statement, the newspaper reported.
Cambodia's tourism sector is among the fastest growing in the world, with the number of tourists arriving over the last eight years growing at an average of 19 percent, the statement said.
Raffles acquired the dilapidated Le Royal and the Grand from the Cambodian government in 1994, the newspaper said, adding that the multi-million dollar restorations were completed in 1997.
The two landmark hotels, built more than 70 years ago, will retain their names and continue to be managed by Raffles Hotels and Resorts, Beddy Suryana, front office manager of the Grand, was quoted by the Cambodia Daily as saying.
"Cambodia is an exciting new market for KHI. Demand for hotel accommodation in the region has grown significantly in recent years, and Cambodia has benefited from increasing tourism," Prince Alwaleed said in a statement, the newspaper reported.
Cambodia's tourism sector is among the fastest growing in the world, with the number of tourists arriving over the last eight years growing at an average of 19 percent, the statement said.
Raffles acquired the dilapidated Le Royal and the Grand from the Cambodian government in 1994, the newspaper said, adding that the multi-million dollar restorations were completed in 1997.
2 comments:
What governmet ought to have a sale tax system in place.
SURE IS, ASK BUNARRY HUN XEN HOW MUCH SHE GOT.
TAX DEPARTMENT OF HUN SEN GORVERNMENT " BUNARY TOMPON"
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