An affiliate of Hyatt Hotels Corporation has entered into a management agreement with Cambodian conglomerate Chip Mong Group for a Hyatt Regency hotel in Phnom Penh. Expected to open in 2020, Hyatt Regency Phnom Penh will be the first Hyatt Regency hotel in Cambodia.
“We are delighted to bring the Hyatt Regency brand to Phnom Penh and Cambodia, and we are honored to begin our relationship with Chip Mong Group,” David Udell, group president – Asia Pacific, Hyatt Hotels Corporation, said in a statement. “As Phnom Penh continues to become known as a destination for art, culture, tourism and business, we are confident that the globally recognized Hyatt Regency brand will resonate with business and leisure travelers visiting the country. Furthermore, we believe the hotel will play a vital role in the city’s development and will become a landmark in the city and a dynamic member of the local community.”
The 250-room Hyatt Regency Phnom Penh will be close to the National Museum and the Royal Palace, as well as cafés, restaurants and art galleries in the area.
The announcement comes just over a year since Cambodia and Thailand announced their “Two Kingdoms, One Destination” tourism agreement, facilitating a single visa for both countries. This will facilitate increased tourism to Cambodia by Chinese tourists, who as of last year were spending nearly $500 billion on their travels abroad, more than any other outbound market.
“The Cambodia luxury hotel market continues to enjoy notable expansion, driven by increasing international tourist arrivals and growing domestic prosperity,” Chris Hobden, surveyor at CBRE Cambodia said at the time.
Photo by Pipop Boosarakumwadi, courtesy of Getty Images