18 August 2003SYDNEY - Park Plaza Kemayan has announced the departure
of its CEO and managing director, Simon Wan, following the
sale of the company's hotel, travel and leisure interests.
Wan has accepted a redundancy package and will leave
sometime after September 30.
PPK, a Malaysian company based in Sydney, recently sold
its travel division to Australian Tours Management for
A$7.3 million. ATM's brands include Explore Holidays and
Venture Holidays.
PPK is also disposing of certain of its hotel assets to
the Carlson Group, and will sell its Malaysian Golf Club.
The changes are subject to shareholder approval.
There are currently two Park Plaza hotels operating in
Melbourne and one in Kuala Lumpur, and three Park Inn
hotels in Sydney, Kuala Lumpur and Terengganu,
Malaysia.
In a statement today, PPK said, "The nature of the
company's ongoing strategic direction following completion
of the disposal of its hotel, travel and leisure interests
has yet to be determined and will be considered by the
company's board at its next board meeting."