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Pentahotel Kowloon has played Hong Kong-style authentic culture after ten years of opening

2023-02-15T04:40:53.381Z


New World (0017) has reduced its holdings of a number of non-core properties in recent months, including the sale of Pentahotel San Po Kong Kowloon for 2 billion yuan at the end of last year. Wang On Properties (1243) partnered with US private equity fund Angelo Gordon (AG


New World (0017) has successively reduced its holdings of a number of non-core properties in recent months, including the sale of pentahotel San Po Kong Kowloon for 2 billion yuan at the end of last year, which was taken over by Wang On Properties (1243) in partnership with US private equity fund Angelo Gordon (AG). goods.

The hotel recently posted a notice outside the building, stating that "Penta Hotel, Kowloon, Hong Kong is honorably closed."

As for pentahotel official website, only pentahotel Tuen Mun remains.


The average hotel transaction after the epidemic is 2.9 million yuan per room

Recently, outside the building of Pentahotel Kowloon, a notice was posted saying "Pentahotel Kowloon, Hong Kong is honored to close down. I sincerely thank you for your support and love over the years." special hotel.

Pentahotel Kowloon is located at No. 19 Liuhe Street, San Po Kong. It is developed by New World. It is a 32-storey building with 695 rooms. It opened in August 2013 and is the first international brand hotel in Kai Tak.

At that time, the management of New World and Rosewood Hotel Group even performed a pig-cutting ceremony outside the hotel.

The design of the hotel is mainly in a simple and modern style. There are playful "graffiti" walls in many places in the hotel, matching the decorations full of Hong Kong cultural style.

The "Food Street" in the hotel also served a variety of authentic delicacies in those days, including Hong Kong-style egg waffles, car noodles, and curry fish balls with pork skin and radishes.

At the beginning of the epidemic, the number of tourists dropped sharply. In April 2020, pentahotel Kowloon provided free accommodation for the frontline medical staff of the Hospital Authority, and became one of the government-designated quarantine hotels from March 2021.

During the severe period of the fifth wave of the epidemic last year, the hotel was also rented out as a community isolation facility.

Until December last year, New World sold the hotel to a consortium of Wang On Properties and American private equity fund Angelo Gordon (AG) for 2 billion yuan, which was the largest hotel transaction after the epidemic. , when the transaction was expected to close on or about April 3, 2023.

Tang Haokang, the executive director and chief executive officer of Wang On Real Estate, who acquired the property from New World, said in an inquiry from "Hong Kong 01" after the transaction at the end of last year that Wang On was appointed as the property asset manager and planned to renovate and rebrand the property .

As for New World, in addition to selling the aforementioned Pentahotel Kowloon, it recently sold KOHO, a revitalized commercial building at No. 73-75 Hung To Road, Kwun Tong, at a price of 1.7 billion yuan.

Hong An Partners Private Equity Fund acquired Pentahotel Kowloon for RMB 2 billion, the largest transaction since the outbreak of the epidemic. New World lent about 700 rooms of Pentahotel Kowloon for community quarantine. 2 billion acquisition of San Po Kong Hotel Tang Haokang: Wang On acts as asset manager and shares operating profits

Source: hk1

All news articles on 2023-02-15

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