Logo of Phnom Penh Post newspaper Phnom Penh Post - Raffles wins the Royal



Raffles wins the Royal

Raffles wins the Royal

T OURISM Minister Veng Sereyvuth announced today that Raffles International has been selected to redevelop the Grand Hotel in Siem Reap, a project costing $30 million.

Raffles had previously won the deal to manage and develop the Royal Hotel in Phnom Penh.

Raffles' combined investment in Cambodia with these two prestigious hotels now stands at $55 million.

The Royal, a sister hotel of the Grand, was built in 1927.

"As with the Royal Hotel, the object (of the Grand Hotel deal) was to preserve the character and restore the past grandeur of the hotel while providing modern amenities and facilities required of an historic hotel," Mr Sereyvuth said.

Raffles will also be landscaping adjacent parklands which will extend from the hotel to the Royal residence and across to the river.

"The government has negotiated a 60-year lease arrangement under which we receive a substantial premium, percentage of revenue, profit share and in the second term a share in the equity of the project," the minister said.

"The Grand and the Royal fit neatly into our strategic plan to develop a chain of international hotels in the exclusive grand historic market niche pioneered by the Raffles, Singapore," said Richard Helfer, Raffles' chief executive officer.

MOST VIEWED

  • ‘Kingdom one of safest to visit in Covid-19 era’

    The Ministry of Tourism on January 12 proclaimed Cambodia as one of the safest countries to visit in light of the Kingdom having been ranked number one in the world by the Senegalese Economic Prospective Bureau for its success in handling the Covid-19 pandemic. In rankings

  • Ministry mulls ASEAN+3 travel bubble

    The Ministry of Tourism plans to launch a travel bubble allowing transit between Cambodia and 12 other regional countries in a bid to resuscitate the tourism sector amid crushing impact of the ongoing spread of Covid-19, Ministry of Tourism spokesman Top Sopheak told The Post on

  • Kingdom accepts Chinese vaccine, PM first to get jab

    Prime Minister Hun Sen said China would offer Cambodia an immediate donation of one million doses of the Covid-19 vaccine produced by the Sinopharm company. In an audio message addressing the public on the night of January 15, he said Cambodia has accepted the offer and

  • Reeling in Cambodia’s real estate sector

    A new norm sets the scene but risks continue to play out in the background A cold wind sweeps through the streets of Boeung Trabek on an early January morning as buyers and traders engage in commerce under bright blue skies. From a distance, the

  • Quarantine site in north Phnom Penh inaugurated

    A four-building quarantine centre in Phnom Penh’s Prek Pnov district was formally inaugurated on January 6. The centre can house up to 500 people, according to Phnom Penh municipal governor Khuong Sreng. At the inauguration ceremony, Sreng said the municipal hall had cooperated with the Ministry

  • More than 5K workers rush from Thailand amid outbreak

    Following the recent outbreak of Covid-19 in Thailand’s Samut Sakhon province, Cambodian migrants working in Thailand were gripped by worry over the situation and many rushed to return to their homeland. Over the past 10 days, more than 5,000 migrant workers have returned from Thailand through