Oxley Holdings inks MOU to develop Cambodia’s first Shangri-La hotel
It will be operated by Oxley Gem.
Oxley Holdings has inked a Memorandum of Understanding with Shangri-La International Hotel Management in relation to the management and operation of the first Shangri-La hotel in Phnom Penh, Cambodia.
The hotel will be developed by Oxley Gem, which is 75%-owned by Oxley Group and 25%-owned by WorldBridge Land.
Under the terms of the MOU, Oxley Gem will grant Shangri-La a 60-day exclusivity period to negotiate the management of the hotel.
Oxley Gem will not engage or enter into negotiations with any hotel operators other than Shangri-La during this period.