Talks under way with New World on premium development
The operator of the Hyatt Regency hotel on Nathan Road in Tsim Sha Tsui that is due to close at the start of next year is planning to move to nearby Hanoi Road.
Chicago-based Global Hyatt Corp is in talks with New World Development over a management contract for a 320-room premium hotel as part of a one million square foot redevelopment project by New World and the Urban Renewal Authority.
The hotelier's desire for a bigger presence in Hong Kong underscored its optimism on prospects for tourism and hospitality.
New World spokesman Kwan Chuk-fai yesterday said the firm was talking to a number of 'international hotel companies' about a management contract for the four-star or above hotel project due for completion in 2007.
However, he declined to name candidates. Hyatt Regency marketing manager Henrietta Ho declined to comment.