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Following
the UOL Group's completion of the acquisition of Pan Pacific Hotels and Resorts
from the Tokyu Corporation, Pan Pacific Hotels and Resorts is now fully assimilated into the hotel division of
UOLG.
UOLG’s hotel division currently owns 13 hotels and Pan Pacific Hotels and Resorts
adds a further 11 hotels in America, Bangladesh, Canada, Indonesia, Malaysia, Palau, the Philippines, Singapore
and Thailand.
“We are pleased to have concluded the purchase of this upscale brand and believe this strategic
investment will further UOLG’s aim to be a global hospitality management company. We are
confident that the synergies of the acquisition will help both UOLG and Pan Pacific Hotels and
Resorts grow to new heights” said Mr. Gwee Lian Kheng, President and CEO of UOL Group Limited.
“With UOL Group’s commitment,
resources and support, Pan Pacific Hotels and Resorts will now be able to chart a future that will see the brand reaching its potential. We will
be working closely with UOLG to roll out brand initiatives and establish a stronger presence in the marketplace,” added Kevin Croley, Vice
President of Sales and Marketing, Pan Pacific Hotels and Resorts.
Pan Pacific Hotels and Resorts, together with
UOLG, are expected to allocate considerable resources and effort to augment Pan Pacific Hotels and
Resorts’ portfolio across the Pacific Rim. Foremost in the plans is the establishment of a significant presence in key cities on the West Coast
of America, Japan and China. Pan Pacific Hotels and Resorts will also be expanding its product range further into the leisure market as well
as the extended stay market.
See
other recent news regarding:
Pan
Pacific Hotels and Resorts
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