Local conglomerate Chip Mong Group has signed a management agreement with Hyatt Hotel & Resort to operate a five-star Hyatt Regency hotel to be built in the centre of Phnom Penh, a company representative said yesterday.

The representative, who did not wish to be named, declined to release details of the size of the project, location or estimated timeline for completion.

However, according to a press release issued by the Hyatt, the hotel will be located “across from many of the city’s most popular tourist attractions, including the National Museum and the Royal Palace.”

The press release added that construction of the 250-room hotel was slated for completion by 2020, and would add to the company’s growing footprint in Southeast Asia.

“We are delighted to bring the Hyatt Regency brand to Phnom Penh and Cambodia, and we are honoured to begin our relationship with Chip Mong Group,” said David Udell, group president of Hyatt’s Asia Pacific operations, the release said.

He added that as Phnom Penh continues to establish itself as a tourism and business destination, the new hotel will resonate with travellers visiting the Kingdom.

“We believe the hotel will play a vital role in the city’s development and will become a landmark in the city and a dynamic member of the local community.”