UOL in deal to acquire Pan Pacific hotel brand

UOL in deal to acquire Pan Pacific hotel brand
Posted August 1st, 2007

UOL Group has entered into a sales-and-purchase agreement for the Pan Pacific hotel brand.

The acquisition will fast-track the UOL Group’s strategy to become a key player in hotel management in and beyond the Asia-Pacific region. The deal brings the Pan Pacific group’s 12 hotels in the United States, Canada and the region into the UOL portfolio, adding 3,800 rooms.

The Pan Pacific group’s suite of hotels is especially strong in the region with eight of the 12 located in key Asian gateway cities like Yokohama, Jakarta, Bangkok, Manila and Singapore.

‘Strategically, the acquisition provides us with a distinct two-tier structure that will enhance both the Pan Pacific brand and the Parkroyal brand,’ said UOL chief executive Gwee Liang Kheng. The brand acquisition takes the total number of hotel properties under the UOL umbrella to 26, which includes properties operated under leading international hotel chain names like Sheraton, Sofitel and Crowne Plaza.

The purchase also boosts UOL’s room capacity significantly. ‘From a business standpoint, we now have a total of more than 8,900 rooms,’ said Mr Gwee.

Source : Business Times