1 August 2000Stamford Hotels & Resorts Group on Tuesday announced
it had successfully completed the purchase of the Sheraton
Sydney Airport Hotel and the adjoining Airport Central
Office Tower for A$92 million.
Stamford is part of Hai Sun Hup Group, a large and
well-known shipping and property group which is publicly
listed on the Singapore Stock Exchange.
According to Scott Cogar, chief operating officer of
Stamford Hotels and Resorts, the purchase represents the
third (of four) recent and highly strategic additions to
the group.
Cogar said "this acquisition directly follows on from
the recent soft opening of our new luxury flagship
all-suite hotel on Kent Street in Sydney's CBD, 'Stamford
Plaza Sydney', and the recent re-branding of The
Ritz-Carlton Sydney to the 'Sir Stamford at Circular
Quay".
The completion of this purchase represents the third of
four major milestones for our Group in just two months,
with the remaining highlight to be the acquisition of the
prestigious Heritage Hotel in the Brisbane CBD within the
coming week". Executive chairman of the Hai Sun Hup Group
Ltd, C. K. Ow, is a driving force behind the Group's
expansion plans and was highly pleased with the Group's
latest purchase.
Look out for TravelWeekly East, August 3 issue
for an in depth look at Ow's rebranding and acquisition
plans