[photopress:Lo_Yuk_sui.jpg,full,alignright]Start with the fact that Regal Hotels International Holdings, the Hong Kong hotel company, is expecting to be seriously cashed up from the proceeds of its upcoming REIT which will happen in January. The company will hang on to close to half the company after the REIT. At which point the company will have about RMB5 billion (US$650,000) in the cash box.
Speaking after the company annual general meeting — everyone in favor of the REIT spin-off — the chairman and managing director Lo Yuk-sui (seen above) said Regal Hotels will put the money in balanced short, medium and long term investments to get a ‘reasonable return.’ Good sensible stuff.
Then he said Regal Hotels would remain focused on hotel properties. He said, ‘Whether investment in shares is better than actually doing business, I personally think we should keep our feet on the ground and concentrate on the main business.’ He then said, ‘We hope to apply very soon for a management license for greater China and other places.’
Currently Regal Hotels is looking at China’s main and second-tier cities, gateway cities and resort areas.
Source: The Standard