The $150 million multi-purpose tower, which is a joint venture between a local company and a well-known US hotel chain, began construction on Monday and is set to open in 2022.
The currently unnamed 45-storey tower, which includes the three-star hotel Fairfield by Marriott Phnom Penh, is located on Russian Boulevard, next to the 7 Makara flyover.
It is a joint venture between the Royal Field Development Company Limited, a subsidiary of Chip Mong Group, and the US’ Marriott International Inc.
Royal Field Development chairman Leang Khun said the partnership with the international hotel chain is a trend happening in line with the robust growth of the economy and tourism sector.
“The construction of the international and mixed-commercial building and Fairfield by Marriott Phnom Penh will make a significant contribution to Cambodia’s commercial and tourism needs,” he said.
‘Collaboration will improve’
Chip Mong Group Hotels and Hospitality division senior vice-president Simon Dell said the reason why Royal Fields Development chose Marriott International as a partner was that it is an internationally renowned company.
“We believe that the collaboration will improve without seeing any risks,” Dell said.
The first five storeys of the tower will host offices and cinemas, while floors 15 to 45 will serve as the hotel Fairfield by Marriott Phnom Penh.
Karl Hudson, Area Vice President for Cambodia, Thailand, Vietnam and Myanmar for Marriott International Inc, said Fairfield by Marriott Phnom Penh will focus on middle-class clients.
“The hotel will help fill the gap in mid-price accommodation in Cambodia,” he said.
Marriott is an international standard hotel that was established nearly 90 years ago and has been operating a host of hotels in over 110 countries worldwide.
Cambodia Association of Travel Agents president Chhay Sivlin said the increasing number of tourists and arrivals at international hotels indicates confidence in the Kingdom and its prosperity.
“It is also a message to international investors about the opportunity to come and invest. As a player in the tourism sector, I really want more of such investments from international companies,” she said.
However, Sivlin said that along with the growing presence of such international companies, Cambodia should also strengthen its human resource development to of better quality.