August 29, 2014 4:30 AM ET

Hotels, Restaurants and Leisure

Company Overview of Shangri-La International Hotel Management Ltd.

Company Overview

Shangri-La International Hotel Management, Ltd. operates hotels and resorts.. It also operates hotels in Guilin, Guangxi Province; and Male, Maldives, as well as a resort in Singapore. The company was founded in 1971 and is based in Hong Kong. Shangri-La International Hotel Management, Ltd. operates as a subsidiary of Shangri-La Asia Ltd.

28/F Kerry Centre

683 King's Road

Quarry Bay

Hong Kong,  

Hong Kong

Founded in 1971

Phone:

852 2599 3000

Fax:

852 2599 3131

Key Executives for Shangri-La International Hotel Management Ltd.

Chief Executive Officer and Managing Director
Age: 62
Chief Operating Officer
Age: 49
Vice President
Compensation as of Fiscal Year 2014.

Shangri-La International Hotel Management Ltd. Key Developments

Shangri-La International Hotel Management Limited Enters into Hotel Management Agreements with Ji Xiang Real Estate (Nanjing) Co, Limited and Tianjin Kerry Real Estate Development Co, Limited

On June 26, 2014, Shangri-La International Hotel Management Limited and each of Ji Xiang Real Estate (Nanjing) Co, Limited and Tianjin Kerry Real Estate Development Co, Limited entered into a hotel management agreement, pursuant to which SLIM-HK will provide hotel management services to the hotels which are owned by Nanjing Project Co and Tianjin Project Co. The term: The operating term of the Hotel Management Agreements shall commence from the date of hotel opening and end on its third anniversary. SLIM-HK has the right to decide whether the term shall be renewed for another consecutive 3-year term provided that the entire term of the hotel management agreements shall not be longer than 20 years. The company will comply with the relevant requirements under the Listing Rules if the hotel management agreement is renewed. Fees: The fees for the provision of Hotel Management Services for each of the Hotels mainly comprise: Base management fee­-a fixed percentage of the gross operating revenue of the Hotel per annum for hotel management services. Marketing fee-­a fixed percentage of the gross operating revenue of the Hotel per annum for on-going marketing services. Reservation fees-a fixed amount per net booking for reservation services provided by SLIM-HK.

Shangri-La Hotels and Resorts and Nakheel Sign Letter of Intent to Manage 290-Room Hotel in the Palm Tower on Palm Jumeirah

Shangri-La Hotels and Resorts and Nakheel have signed a letter of intent for Shangri-La to manage a 290-room hotel in The Palm Tower on Palm Jumeirah. Construction of The Palm Tower, part of the new Nakheel Mall and Hotel complex at the heart of the island, is slated to begin this year with the hotel expected to open in 2016. The Shangri-La hotel will be located on the first 18 floors of the 52-level building and will feature an array of facilities, including outdoor family dining, an outdoor pool, a health club and spa. Hotel guests will have direct beach club access via a bridge and walkway to Club Vista Mare. They will also have direct access to The Palm Monorail and Nakheel Mall, a new retail, dining and entertainment destination for Dubai also opening in 2016.

Rasa Sayang Resort Announces Unaudited Earnings and Operating Results for the First Quarter Ended March 31, 2014

Rasa Sayang Resort announced unaudited earnings and operating results for the first quarter ended March 31, 2014. The company was able to grow its occupancy to 74% from 72%. For the first quarter of 2014, the growth in occupancy is contributing to a rise of 5% in revenue to MYR 21.865 million. Pretax profit was MYR 6.959 million, 9% better than MYR 6.381 million for the first quarter of 2013.

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