Two of Cambodia’s historic landmark hotels, the Raffles Hotel Le Royal Phnom Penh and the Raffles Grand Hotel d’Angkor Siem Reap, have been bought by Lodgis Hospitality Holdings, a hotel investment platform, a joint venture formed by private equity companies, VinaCapital and Warburg Pincus.
The Raffles hotels are both historic 1930s buildings, which were fully restored and re-opened under the iconic ‘Raffles’ brand in 1997.
The Hotel Le Royal is a luxury five star boutique hotel inPhnom Penh that was first established in 1929. It is a hotel where famous travelers and writers likeCharlie Chaplin,Jackie Onassis,André Malraux, andW. Somerset Maugham have stayed. Between 1970 and 1975 many journalists working in Phnom Penh covering the Cambodian civil war stayed at the hotel.
The hotel closed after theKhmer rougevictory in theCambodian civil warin 1975 and was re-opened in 1997 after a careful restoration and refurbishment program byRaffles Hotels and Resorts. Since it’s reopening, the 5-star hotel has consistently been voted as one of the top international hotels in Cambodia.
The Grand Hotel D’Angkor is also a historic landmark hotel that was opened in 1932. The hotel was constructed to accommodate the influx of tourists arriving in Cambodia to visit theAngkor Wat, the world's largest religious complex and is constructed in theFrench Colonialstyle popular in the early 20th century.
The hotel is fronted by 15 acres of gardens, including a produce garden that provides fruits, vegetables, and herbs for use in the kitchen. The hotel maintains its historic architecture and features a raisedporticoat its front façade. The lobbyelevatorfeatures ornatewrought iron doors, while throughout the hotel, guests will find black-and-white marble floors andKhmerfurniture.
Following the acquisition, the two properties will undergo select renovations including upgrading rooms, food and beverage outlets, and meeting facilities, according to a Lodgis spokesperson.
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.”