Lodgis Hospitality Holding Pte Ltd has successfully completed the acquisition of two historic landmark hotels in Cambodia, the Raffles Hotel Le Royal Phnom Penh and the Raffles Grand Hotel d’Angkor Siem Reap.
Following the acquisition, the two properties will undergo select renovations including upgrading rooms, food and beverage outlets, and meeting facilities, according to a Lodgis.
To date, Lodgis has acquired and developed several leading city hotels and beachfront resorts in Vietnam, including the Sofitel Legend Metropole in Hanoi, which consistently ranks as one of the leading hotels in Asia.
The Raffles hotels in Cambodia are the company’s first acquisition outside Vietnam.
Peter T. Meyer, CEO of Lodgis, said, “We are very excited with the acquisition of the two historic Raffles hotels in Cambodia.
“Together with the Metropole in Hanoi, Lodgis now owns an irreplaceable Indochina heritage hotel portfolio that allows us to achieve significant synergies on both marketing and operations to better serve the rapidly developing tourism market across Indochina.
“We see tremendous upside potential for both assets with a highly targeted capital expenditure programme to transform the hotels back to their grand stature.”
Located in Cambodia, the Raffles hotels are both historic 1930s buildings, which were fully restored and re-opened under the iconic ‘Raffles’ brand in 1997.
Lodgis is a hospitality platform sponsored by Warburg Pincus and VinaCapita, the shareholders.