Cambodia’s Historic Raffles Hotels Sold to Singapore Firm

• 3 July 2018
• Property Focus
• 4561 Views

Raffles Hotels in Siem Reap

Singapore-based hotel management platform Lodgis Hospitality Holdings Pte. Ltd. (Lodgis) had acquired the two Raffles hotels in Cambodia.

According to the press release yesterday, Raffles Hotel Le Royal Phnom Penh and Raffles Grand Hotel d’Angkor Siem Reap were officially sold to the company.

Following the acquisition, the two hotels are now part of the collective of luxury historic hotels in the Indochina region.

The company plans to renovate the two hotels in order to maintain these historical buildings which are have a unique Khmer-French colonial charm. The guest rooms, food and beverage outlets, and the meeting facilities will be upgraded in order to improve the guest experience. Other areas in the hotels are also to be upgraded.

The renowned hotels have been buildings since the 1930s and they were restored and re-opened under the iconic ‘Raffles’ brand in 1997.

The tourism industry in Cambodia has seen strong recent growth. In 2017, the country received around 5.6 million international visitors, about an 11.8% year-on-year (YoY) increase and more than a 10% increase on the 10-year compound annual growth rate (CAGR) while Phnom Penh and Siem Reap shared 49% and 38% of the total visitors respectively.

At least 6 million international visitors and 15 million domestic tourists are expected visit the country in 2018.