|Bangkok Post, Thailand|
Knight Ridder/Tribune Business News
Jul. 14, 2005 - London-listed Millennium & Copthorne (M&C) Hotels Plc is constructing a new five-star hotel in Bangkok, to be called the Millennium Sukhumvit Bangkok, and scheduled for opening in late 2007.
The hotel will join M&C Hotels' global portfolio of hotels including Millennium Biltmore in Los Angeles, the Millennium Knickerbocker in Chicago and the Millennium Broadway of New York.
The Sukhumvit Road hotel will be managed by M&C Hotels and owned by Thailand-based Fena Estate Co, as a 50-50 joint venture between The Srichawala family, owner of FICO Group, and City Hotels Pte Ltd, a wholly-owned subsidiary of M&C Hotels Plc.
It is part of M&C Hotels' strategy to raise more Millennium flags in the Asia-Pacific region, according to Kwek Leng Beng, executive chairman of the Hong Leong Group Singapore, and chairman of M&C Hotels.
M&C Hotels, a 53 percent subsidiary of City Developments Ltd and part of the Hong Leong Group Singapore, operates 88 hotels in 17 major gateway cities, excluding management contracts signed this year.
The Millennium Sukhumvit Bangkok represents M&C Hotels' eighth management contract. Other hotels signed by the group include a luxury hotel and residential project in Sharm el Sheikh, Egypt and the 200-bedroom, four-star, Millennium Hotel in Southampton, England.
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Copyright (c) 2005, Bangkok Post, Thailand
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