Lodgis acquires two historic landmark hotels in Cambodia

Lodgis Hospitality Holdings Pte. Ltd. (“Lodgis”), a leading fully integrated hospitality platform sponsored by Warburg Pincus and VinaCapital (the “Shareholders”), announced today that it has successfully completed the acquisition of two historic landmark hotels in Cambodia, the flagship Raffles Hotel Le Royal Phnom Penh (“Raffles Le Royal”) and the Raffles Grand Hotel d’Angkor Siem Reap (“Raffles Grand d’Angkor”) (collectively the “Raffles Hotels”).  With the acquisition of the Raffles Hotels, Lodgis now owns the largest collection of luxury historic hotels in the Indochina region as well as a growing resort and hotel management business under the Fusion brand.

The acquisition of the Raffles Hotels marks the company’s maiden acquisition outside of Vietnam and adds to Lodgis’ leading Indochina hotel platform.  To date, Lodgis has acquired and developed several leading city hotels and beachfront resorts in Vietnam, including the 365-key Sofitel Legend Metropole in Hanoi, the top performing hotel in Vietnam and consistently ranked as one of the leading hotels in Asia.

Located in Cambodia, the Raffles Hotels are both historic 1930s buildings, which were fully restored and re-opened under the iconic ‘Raffles’ brand in 1997.  The 175-key Raffles Le Royal is centrally located in the capital city of Phnom Penh, adjacent to the U.S. Embassy and in proximity to several key government offices, the Royal Palace as well as the Central Market.  The 119-key Raffles Grand d’Angkor is in the heart of the old French Quarter of the resort destination of Siem Reap, and is only 6km from the renowned UNESCO World Heritage site of Angkor Wat, the largest religious monument in the world.

To maintain their unique Khmer-French colonial charm, the two properties will undergo select renovations which include upgrading and refreshing the guest rooms and food and beverage outlets as well as updating the meeting facilities and other areas to enhance the guest experience at the hotels.

Peter T. Meyer, Chief Executive Officer of Lodgis, said, “We are very excited with the acquisition of the two historic Raffles hotels in Cambodia.  Together with the Metropole in Hanoi, Lodgis now owns an irreplaceable Indochina heritage hotel portfolio that allows us to achieve significant synergies on both marketing and operations to better serve the rapidly-developing tourism market across Indochina. We see tremendous upside potential for both assets with a highly targeted capital expenditure program to transform the hotels back to their grand stature.  Given our close working relationship with Accor as well as our strong in-house expertise, we are confident the hotels will create long-term value for Lodgis and be very well positioned for the overall Indochina market.”

In 2017, Cambodia recorded 5.6 million international visitor arrivals, representing a year-on-year growth of 11.8% on the back of a strong 10-year CAGR of over 10%. Phnom Penh and Siem Reap attracted the largest share of international visitors in the country with 49% and 38% share, respectively. Notably, over 1 million Chinese tourists visited Cambodia in 2017, representing an outsized 45% year-on-year growth and making Cambodia one of the fastest growing frontier markets for Chinese outbound tourists in Southeast Asia alongside Vietnam.  With increasing direct flights and the government’s strong push towards tourism, the industry is expected to continue its strong upswing in 2018 with at least 6 million international visitors on top of the projected 15 million domestic tourists, reaching an anticipated US$4 billion in revenue. In addition to tourism, foreign direct investment in the country reached US$6.3 billion in 2017, translating to a 75% year-on-year increase.

About author

TnH Global
TnH Global 4067 posts

Our platform is the most comprehensive, current and accurate content destination for tourism that also offers the opportunity to connect and network with quality buyers and sellers.

Name: TnH Global              Email: admin@tnhglobal.com

You might also like

Slider

India, Switzerland sign two MoUs in rail sector

The Indian Railways on Thursday signed two Memoranda of Understanding (MoUs) with Switzerland for technical cooperation and to establish George Fernandes Institute of Tunnel Technology (GFITT) in Goa. The MoUs were signed in the

Trending

Special train service to Tirupati extended

To clear rush of passengers in the ensuing holidays and summer vacation, East Coast Railway has decided to extend special train services. Train 08573 Visakhapatnam- Tirupati Weekly Special Express will

Destinations

AirAsia India introduces new routes, prices start from Rs 1,699

AirAsia is rolling out tickets for a price of Rs. 1,699. This offer comes as AirAsia India introduces new routes from Kolkata to Guwahati, Imphal, Pune and Visakhapatnam. The offer

Latest

Vistara forays into the Holy city of Varanasi

Vistara recently announced bookings for its 12th destination – Varanasi. Starting October 21, 2015, Vistara will offer daily flight on the Delhi-Varanasi-Delhi route. Close on the heels of opening bookings

Latest

Spain to lure Indians through film tourism

Spain is encouraging Indian film-makers to use its fiestas, cities and historic monuments as settings for their movies, in an effort to increase share of India’s outbound tourism market. The

Latest

Jet Airways to launch daily flights to Amsterdam from Mumbai, Delhi and Toronto

Jet Airways, India’s premier international airline, has announced the launch of daily non-stop services between India and Amsterdam, its new European gateway which is ideally located for convenient onward connections.

Destinations

Indians having valid US, UK, Ireland or Schengen visa will continue to be eligible for Turkish e-visa

In the wake of the Government of Turkey’s decision of scrapping the policy of visas-on-arrival (VoA) for a number of nationalities, including Indians, the Embassy of Republic of Turkey recently reiterated that

Trends

Indian Railways to take care of your Shirdi travel needs

Good news for pilgrims travelling to Shri Sai Baba temple from Mumbai. Indian Railways along with Indian Railway Catering and Tourism Corporation (IRCTC) will soon make it possible for the

Latest

12 Airports Authority of India airports to woo passengers with retail therapy, better dining experience

The Airports Authority of India (AAI) is gearing up to provide passengers a better shopping and dining experience at 12 of its airports, which will boost its revenue. AAI has

Travel Trade

STARING AT AN UNPRECEDENTED EXISTENTIAL CRISIS

With neither support nor assurance from the Government, traumatized India’s ​​travel & tourism industry stares at an unprecedented existential crisis. By Prem Kumar It has been around two months since

Latest

Shangri-La’s Hambantota Resort & Spa To Open On 1 June

Stunning resort will be the first Shangri-La in Sri Lanka, the “Pearl of the Indian Ocean”   Opening on Sri Lanka’s stunning southern coastline on 1 June 2016, Shangri-La’s Hambantota

Courtyard by Marriott Siem Reap Resort is set to open in APRIL 2017

Preparations are under way for Cambodian-based Grand Lion Group to open the very first Marriott International branded hotel in Cambodia, a 233-room Courtyard by Marriott Siem Reap Resort in April

0 Comments

No Comments Yet!

You can be first to comment this post!