Logo of Phnom Penh Post newspaper Phnom Penh Post - Chinese companies to invest in five-star hotels in Phnom Penh, Sihanoukville



Chinese companies to invest in five-star hotels in Phnom Penh, Sihanoukville

Content image - Phnom Penh Post
Newly-constructed buildings in Preah Sihanouk province. Yousos Apdoulrashim

Chinese companies to invest in five-star hotels in Phnom Penh, Sihanoukville

Two Chinese firms are to invest more than $1.5 billion in hotel developments and commercial centres, according to the Council for the Development of Cambodia (CDC).

CDC said Xin Da Shi Jie International Hotel Co Ltd is to build a 1,500-room five-star hotel in Sihanoukville, with capital investment of $331.5 million.

The second project will see BOCC Development Co Ltd build a commercial centre, a 1,600-room five-star hotel and a four-star serviced hotel apartment on Phnom Penh’s Diamond Island, with capital investment of $1.181 billion, it added.

Combined, the projects are anticipated to create some 8,879 new jobs.

Preah Sihanouk provincial Department of Tourism director Taing Sochet Kresna said it was unlikely the province would again face a lack of accommodation, but he predicted that there could be a shortage of hotel rooms as infrastructure improved.

“At the moment, the demand for hotel rooms in Preah Sihanouk province is not a major problem, but it could be shortly, especially for international tourists.

“I am really pleased that Preah Sihanouk province has received this investment for a five-star hotel,” Sochet Kresna said

The arrival of the five-star hotel would not only attract high-income tourists, but also potential new investments, he added.

Association of Travel Agents of Cambodia president Chhay Sivlin told The Post that while lower-tiered hotels below three-star were easier to book than before, higher-end hotels above four-star were struggling to meet demand.

She added that while five-star establishments in Phnom Penh may be overbooked, the same was not true of Preah Sihanouk province.

“I want to see more high-standard options in the hotel industry in Cambodia to satisfy tourists,” Sivlin said.

She expressed optimism that with a 10 per cent rise in foreign tourist arrivals this year, greater visitor numbers next year would see increased demand for hotels.

MOST VIEWED

  • Phnom Penh unveils rules for post-lockdown transition

    The Phnom Penh Municipal Administration issued a set of detailed guidelines for the seven days to May 12 after the capital emerges from lockdown at the onset of May 6. In the 14-page document signed by municipal governor Khuong Sreng released on the evening of May 5, the

  • SBI LY HOUR Bank Launches Cross Border Money Transfer Service between Cambodia and Vietnam on RippleNet, utilizing DLT

    SBI LY HOUR Bank Plc and Hanoi-based Tien Phong Commercial Joint Stock Bank (TPBank) on Friday launched the first Cambodia-Vietnam money transfer service in real currency via RippleNet, provided by SBI Ripple Asia Co Ltd to provide safe, fast and convenient services. SBI LY HOUR

  • Gov’t issues guidelines as lockdown nears end

    The government has issued a five-page set of instructions to be enforced when the three-week lockdown of Phnom Penh and adjacent Takmao town in Kandal province ends on May 6. According to an announcement signed by Prime Minister Hun Sen on May 4, the instructions cover a

  • Cambodia ready to exit LDC status

    Cambodia is well-prepared to minimise economic risks when it graduates from its Least Developed Countries status, according to a senior official at the Ministry of Commerce on May 7. Four LDCs – Cambodia, Laos, Bangladesh and Nepal – met at a virtual workshop last week to explore potential

  • Tottenham Hotspur to wear ISF Cambodia logo on jerseys in match against Sheffield United

    Last year, the Indochina Starfish Foundation (ISF) – an NGO providing education to underprivileged children in Cambodia – made global headlines with its “socially distanced” football initiative. This year, a world-class football club – Tottenham Hotspur FC – will wear special edition jerseys to show their support for ISF

  • Nine US franchises eye Cambodia debut

    Nine famous US franchising companies are looking for business opportunities and expansion into Cambodia to build a footstep for a strong foundation in Southeast Asia. The US embassy in Phnom Penh, in partnership with the US Foreign Commercial Service and with support from the American