Lai Sun Development says it will concentrate on bolstering its hotel management business in Asia following the recent expansion of its ownership portfolio.
The property firm last week announced it was acquiring Chi Cheung Investment Co's 10 per cent stake in the Hong Kong Ritz-Carlton Hotel, bringing its holding to 70 per cent.
It also led a consortium to acquire the luxury Four Seasons hotel in New York.
In view of the industry's high growth potential in Asia, vice-president Jacky Chiu said the group's immediate priority would be to strengthen its existing hotel management operations.
Mr Chiu said there were no plans for further expansion.
Through hotel arm Glynhill International, Lai Sun has secured eight hotel management contracts in Asia.
Mr Chiu said five of the hotels were in operation with the remainder - including the Delta Paradise Lagoon Hotel in Malaysia, the Delta Media Hotel in Jakarta and the Delta Grand Pacific Hotel in Bangkok - under construction.
