Chip Mong Group chairman and management teams photographed at a Krong Peali Buddhist blessing ceremony for the hotel on November 26, 2020. Photo supplied
The $180 million The Hyatt Regency Phnom Penh hotel is set to launch in January, marking the brand’s first venture into the Kingdom’s capital.
Local conglomerate Chip Mong Group signed a management agreement with Chicago, US-based Hyatt Hotels Corp in September 2016 for the hotel, which broke ground in March 2017.
Chip Mong Group co-founder and chairman Leang Khun on November 26 said his company’s vision and business strategy are geared towards expansion and remain incessant and unwavering.
He was speaking at a Krong Peali Buddhist blessing ceremony for the hotel, which he noted was held to bring harmony and prosperity for the venture, for when it opens its doors.
“As the owners of the hotel, we have high commitment, have solved all challenges, and mobilised the resources to invest in constructing this building and bringing a global-branded hotel to Cambodia,” he said.
He said his company invested in the hotel to contribute to the development of national economy, generate tourism and business activities, create jobs, develop local human resources, bring new technology and the best practices in the hospitality sector to be applied in the domestic market.
“I am confident this hotel will quickly become the go-to gathering place for guests from all over the world to experience the beautiful culture of Cambodia,” he said.
This five-star hotel has 247 rooms, including 43 suites, and is located on Street 178 in Daun Penh district’s Chey Chumneah commune, a potential area for tourism, hospitality and commerce.
Cambodia Association of Travel Agents president Chhay Sivlin voiced her optimism that the hotel would help reel in tourists to the Kingdom in the post-Covid-19 era.
She said: “We can now boast another tourism product that is sure to drive Cambodia’s tourism industry. With such destinations in our repertoire, tourists from around the world will flock to our country in droves.
Ministry of Tourism spokesman Top Sopheak told The Post in June that his ministry has licensed a total of 2,044 hotel businesses in Cambodia, 343 of which operate in Phnom Penh.
Capital investment in the Kingdom’s construction sector in the first nine months of this year fell 9.6 per cent to $5.868 billion from $6.494 billion in the year-ago period, the Ministry of Land Management, Urban Planning and Construction reported.
