SHANGRI-LA Hotels and Resorts has signed an agreement with New Riviera Hotel Development Co to take over the management of the 307-room Holiday Inn Hotel in Manila.
The management change is effective from January 1 next year and the property will be renamed Traders Hotel Manila.
The property will undergo a major refurbishment programme at the beginning of January at a cost of about US$10 million. Work will be conducted in stages to ensure minimal inconvenience to guests.
The property will be Shangri-La's fourth in the Philippines.
Shangri-La also had a topping-out ceremony for the 428-room Shangri-La Hotel Beihai in China recently. The property is scheduled to open in the middle of next year.
The 17-storey property is Beihai's first joint-venture hotel and is being developed at a cost of US$54 million.