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Eric Waldburger to Assume Role of President, Marco Polo Hotels

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Mr. Eric Waldburger is to assume the role of President, Marco Polo Hotels in mid-July.

 Mr. Waldburger is one of Asia’s most experienced hoteliers having held senior executive and management positions with Harbour Plaza Hotels, Ritz-Carlton, Peninsula Hotels and Mandarin Oriental.

 With his 38 years of hotel operating experience in Asia, Mr. Waldburger will focus on the company’s operational readiness given its current expansion plans in the region.

 Mr. Steve Kleinschmidt, the outgoing President, will take on the new advisory role of Vice Chairman – Asset Management from his new base in Canada and will focus on the investment portfolio of owned hotels and the strategic management of existing and new owned hotels.

Commenting on the appointment, Mr Peter Woo, Chairman of The Wharf (Holdings) Limited said, “Wharf is investing over HK$ 8 billion to build six new hotels in China. The number of hotels operated by Marco Polo will increase to over 20 in five years. We own and operate excellent hotels in Hong Kong, Mainland China, the Philippines and Thailand. In Hong Kong, our three hotels on Canton Road have performed exceptionally well and are an integral part of the Harbour City complex. Many of our mixed use complexes in China will see outstanding hotel properties as part of these exciting new projects. We are developing an overall portfolio of 125 million square feet of properties in China. They currently represent more than a third of our total assets.”

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