Expecting Cambodia’s tourism industry to continue growing, the Sokimex company announced plans Tuesday to invest $25 million in a five-star hotel development project in Siem Reap.
Sokimex President Sok Kong said his company’s research has shown that the hotel industry still has a great deal of potential in Siem Reap, while the Ministry of Tourism revealed recently that tourism statistics are indicating a 30 percent annual increase.
Minister of Tourism Veng Sereyvuth said after Asean’s leaders signed the Asean Tourism Agreement Monday that the pact would further contribute to tourism through increased transportation routes and the relaxation of visa requirements for travel within Asean nations.
“I don’t think tourists will decrease, and you can see that the few five-star hotels in Siem Reap are full, The situation is very good and smooth,” said Sok Kong, who is also Phnom Penh Chamber of Commerce president.
The proposed hotel will have 260 rooms and will be located in Siem Reap town near the five-star Grand Hotel. It is scheduled for completion in 2004 and will employ an estimated 300 Cambodians, Sok Kong said.
Sok Kong admitted that his company has no experience in the hotel business, so he intends to seek help from a foreign consulting firm. “I will look for a Japanese hotel-management firm to run the business. I have the money, but I don’t have the skill to manage it.”
He said a Japanese-managed hotel will attract Japanese tourists.
Kong Chheng Lee, coordinator for the Siem Reap Association, said the new hotel will be good for business in Siem Reap because more five-star hotels will bring the price for luxury accommodations down to a more affordable level.
Currently, there are 56 hotels in Siem Reap, four of them luxury hotels. At least 10 new hotels are set to open by 2004, Kong Chheng Lee said.
