 |
|
  |
2005-9-16 08:53:00 a.m. HKT, XFNA
Hong Kong's Regal Hotels, Paliburg plan new hotels in China - report
|
| |
HONG KONG (XFN-ASIA) - Regal Hotels International Holdings, which
operates five hotels in Hong Kong, and controlling shareholder Paliburg
Holdings plan to build two hotels in mainland China as Beijing prepares to
host the 2008 Summer Olympics, The Standard reported.
The paper quoted Lo Yuk-sui, chairman and managing director of both
companies, as saying that the firms plan to put up a five-star hotel in the
capital after purchasing in July a 23 pct interest in a property project
there through a 50-50 venture.
""We also plan to build one more four-star hotel in Beijing, and probably
in Shenzhen. I believe the investment on each hotel will be up to several
million yuan,"" he said.
Lo forecast a return rate of more than 30 pct on the projects.
(1 usd = 8.1 yuan)
leonora.walet@xfn.com
lw/mas
MMMM
AFN |
| |
News Provided by XFNA |
| |
|
| Copyright(C) AASTOCKS.com Limited 2000. All rights reserved |
| |
|
|
|
