Miramar Hotel Announces Major Acquisition for New Hotel Development

Miramar Hotel & Investment Co ( (HK:0071) ) has shared an announcement.

Miramar Hotel & Investment Company, Limited announced a major and connected transaction involving the acquisition of interests in Solution Right Limited. The acquisition, valued at HK$3.12 billion, will see Miramar acquiring the Target Property known as Champagne Court in Kowloon, which is set for redevelopment into a new hotel. The new hotel will feature 23 stories, including commercial spaces, hotel rooms, shops, and restaurants, and will be adjacent to the existing Mira Hong Kong hotel. The transaction requires independent shareholder approval and adherence to Hong Kong’s Listing Rules due to its connection with Henderson Land, the holding company of Miramar.

More about Miramar Hotel & Investment Co

Miramar Hotel & Investment Company, Limited, incorporated in Hong Kong, operates primarily in the hospitality and real estate sectors. The company is known for its hotel operations, investment, and property development in Hong Kong.

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Technical Sentiment Consensus Rating: Strong Buy

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