Singapore-based Lodgis Hospitality, a joint venture between Warburg Pincus and Vinacapital, has acquired two hotels in Cambodia: The Raffles Hotel Le Royal Phnom Penh and the Raffles Grand Hotel d'Angkor Siem Reap.
The hotel purchases mark the company's first acquisitions outside of Vietnam. The Raffles Hotels were originally built in the 1930s. They reopened under the Raffles brand in 1997 following a major restoration program.
The 175-room Raffles Le Royal is in the capital city of Phnom Penh near the U.S. Embassy and severaly government offices, the Royal Palace and the Central Market. The second property—the 119-room Raffles Grand d'Angkor—is in the center of Siem Reap's French Quarter. The hotel is near the UNESCO World Heritage site of Angkor Wat. The two properties will undergo renovations again, which will include updating the guestrooms, dining outlets and the meeting facilities among other areas.
This latest purchase follows Lodgis' several hotel and resort acquisitions and developments in Vietnam, including the 365-room Sofitel Legend Metropole in Hanoi. The company has expanded its portfolio in the last 18 months to include more than 15 projects in operation and under development in gateway cities and international tourist destinations across the Indochina region.