Local and overseas parties have shown initial interest in the public tender, which closes today, of the five-star Hyatt Regency Hong Kong. The 18-storey hotel, situated at the junction of Nathan Road and Peking Road, Tsim Sha Tsui, covers a site area of 43,525 square feet and has a floor area of 645,000 sqft. The hotel has 723 guest rooms as well as a shopping arcade and restaurants. According to DTZ Debenham Tie Leung director Alvin Yip, several parties, including locally listed investors and foreign companies, have expressed interest in the tender and have asked for bidding details. DTZ Debenham is the sole sales agent for the tender. Mr Yip said the company was expecting to receive 'an encouraging number of bids' before the tender deadline. According to the annual report of listed hotel owner Associated International Hotels, Hyatt Regency Hong Kong (including the shopping arcade) is valued at $3.25 billion (or $4.49 million per room). The tender is seen as a new barometer of the hotel property market following the sale of Regent Hong Kong Hotel for $2.69 billion, or $5.25 million per room, in 2001, and the Conrad Hotel for $2.55 billion, or $4.97 million per room, in 1997.