Pan Pacific Hotels Group

Pan Pacific Hotels Group bets on hospitality

Despite the regional economic uncertainty, the Pan Pacific Hotels Group is betting that Singapore's tourism and hospitality industry will remain robust this year, with big expansion plans after a period of relative quiet. The newest addition to the group's Singapore portfolio, the upper upscale Parkroyal on Pickering hotel opens its doors today after about four years of construction. While it will likely...

Pan Pacific Hotels Group’s Q2 profit drops 56%

The Pan Pacific Hotels Group's (PPH) net profit for the second quarter of 2011 fell 56 per cent to S$6.35 million, from S$14.5 million achieved in the corresponding quarter of 2010. The decline occurred despite a higher revenue of S$88.1 million this second quarter, a rise of 12 per cent from S$78.4 million achieved in Q2 of 2010. In a statement released on Thursday, PPH said expenses rose because of...

Pan Pacific Hotels to open new hotel in Singapore

Pan Pacific Hotels will launch its flagship PARKROYAL hotel in Singapore in 2012. Designed by multi award-winning design and architecture firm WOHA, the hotel on Upper Pickering Street will feature a hotel-in-a-garden concept with sustainable features that have earned it a Green Mark Platinum rating. The 363-room property is situated at the key gateway into the Central Business District (CBD) and the...

Pan Pacific acquires Melbourne hotel

Pan Pacific Hotels Group yesterday announced that its wholly-owned subsidiary, Success City, had agreed to acquire Hilton Melbourne Airport Hotel in Australia for about $141.6 million as part of its regional expansion plans. Pan Pacific, part of the UOL Group, said it planned to manage the 276-room hotel under its Park Royal brand. The acquisition could, through economies of scale and greater brand...

Pan Pacific Hotels Group’s Q1 net profit falls 24% to S$11m

Pan Pacific Hotels Group on Tuesday said its net profit fell 24 per cent to S$11 million in the first quarter of this year compared to the same period last year. The group's revenue also declined by 13 per cent to S$66.5 million in the three months ended March. The group said the decrease is largely due to weaker performance from its hotels. The group is pessimistic about the year ahead. It said the...

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