Shun Ho Holdings Ltd
End-of-day quote Stock Exchange of Hong Kong - 02/21
Shun Ho : Magnificent Hotel to Acquire Rosewood Hotel
03/01/2017 | 11:25 am
HONGKONG, March 1, SinoCast -- Shun Ho Holdings (0253.HK), Shun Ho Property (0219.HK) and Magnificent Hotel Investments (0201.HK) announced the establishment of a joint venture to acquire Vancouver City's land and five-star hotel Rosewood Hotel Georgia at CAD 145 million or HKD 858 million.
The hotel is under one of the world's most famous brands Rosewood, established 2011, with a total construction area of 197,000 square feet, and consisting of 156 large rooms improved from 312 guest rooms. The purchase price is CAD 736 per square foot, below the cost of re-construction, and initial rate of return is 4%.
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