Retail in Asia

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Strategic move to diversify portfolio to premium hospitality assets

Winsor Properties Holdings Limited announced the acquisition of a 40 percent interest in Lanson Place Hotel, Hong Kong for a total consideration of HKD229 million (USD29.5m). The acquisition will enhance the deployment of the group’s financial resources while at the same time expanding and diversifying its investment property portfolio to high-end hospitality assets. The acquisition will be subject to approval in a shareholders’ meeting.

Wing Tai Properties Limited, parent company of Winsor Properties, already holds 60 percent of Lanson Place Hotel. Lanson Place Hospitality Management Limited (LPHM), a wholly owned subsidiary of Wing Tai Properties, will continue to be the manager of the property. LPHM operates premium serviced residences and boutique hotels in Asia.

The award-winning Lanson Place Hotel, offers both business and leisure travellers the convenience of its central location and high standard of service. The 194-room hotel has consistently recorded good occupancy and room rates ever since its opening in late 2005 and is the first hotel in Hong Kong to become the "Small Luxury Hotels of the World".