Shangri-La Hotels and Resorts

Shangri-La Hotels and Resorts

Company type	Public
Traded as	SEHK: 69 SGX: S07 MYX: 5517 SET: Shang
Industry	Hospitality
Founded	23 April 1971; 53 years ago (1971-04-23) in Singapore
Founder	Robert Kuok
Headquarters	Quarry Bay, Hong Kong
Number of locations	101 (as of 2019)
Area served	Worldwide, except Latin America and Caribbean
Key people	Kuok Hui-kwong (Chairman & Executive Director) Lim Beng Chee (Executive Director & Group CEO)
Products	Hotels, resorts
Revenue	US$2.43 billion (2019)[1]
Operating income	US$294.8 million (2019)[1]
Net income	US$169.7 million (2019)[1]
Total assets	US$13.72 billion (2019)[1]
Total equity	US$6.50 billion (2019)[1]
Owner	Kerry Properties
Website	www.shangri-la.com

Shangri-La Hotels and Resorts (Chinese: 香格里拉酒店) is a multinational hospitality company, founded in 1971 by tycoon Robert Kuok and bearing the name of a Far Eastern mythical land of contentment depicted in the 1933 novel Lost Horizon. It is a subsidiary of Kerry Properties, the company has over 100 luxury hotels and resorts with over 40,000 rooms in Africa, Asia, Europe, the Middle East, North America and Oceania.

Shangri-La has 4 brands across different market segments: Shangri-La, Traders Hotels, Kerry Hotels, and Hotel Jen.^[2] The company's head office is in Kerry Centre [zh] (嘉里中心), Quarry Bay, Hong Kong.^[3] The current chairman is Kuok Hui-kwong.

History

The first hotel of the luxury Shangri-La Hotels and Resorts Group was the Shangri-La Hotel Singapore, opened on 23 April 1971.^[4] The name derives from the mythical place Shangri-La, described in the 1933 novel Lost Horizon by British author James Hilton.^[5]

The Shangri-La Hotel Singapore was managed by Westin Hotels & Resorts, until Shangri-La International Hotel Management Limited was founded in 1979, and management of the Singapore Shangri-La was taken back over from Westin in 1984. However, it would not be until 1991 that Shangri-La assumed control of the rest of the hotels.^[6]

This hotel has also become the host to a prominent inter-governmental security conference known as the Shangri-La Dialogue.^[7]

Corporate affairs

Subsidiaries

• Shangri-La Asia Limited is incorporated in Bermuda with limited liability.^[8] It is primarily listed on the Stock Exchange of Hong Kong Limited (stock code 00069) with a secondary listing on the Singapore Exchange Securities Trading Limited (stock code Shang Asia 2kHK$) and with American Depositary Receipt traded as SHALY.^[9] Since 1997, Shangri-La Asia Limited has owned Shangri-La International Hotel Management Limited.
• Shangri-La Hotels (Malaysia) Berhad is incorporated in Malaysia with limited liability and is traded on the Bursa Malaysia Securities Berhad (stock code 5517).^[10]
• Shangri-La Hotel Public Company Limited is incorporated in Thailand with limited liability and is traded on the Stock Exchange of Thailand (stock code SHANG).^[11]

Properties

As of March 2022, Shangri-La owns, operates, or manages 100 hotels in 77 destinations:^{[citation needed]}

Senior leadership

• Group Chairman: Kuok Hui-kwong (since January 2017)
• Group CEO: Vacant (since January 2023)

Former chairmen

1. Robert Kuok (1984–1993)
2. Pho Ba Quan (1993–1994)
3. Richard Liu (1994–1997)
4. Beau Kuok Khoon-chen (1997–2000)
5. Alex Ye (2000–2003)
6. Edward Kuok Khoon-loong (2003–2008)
7. Kuok Khoon-ean (2008–2013)
8. Beau Kuok Khoon-chen (2013–2017); second term

Former chief executives

1. Robert Kuok (1984–1993)
2. Pho Ba Quan (1993–1994)
3. Paul Bush (1994–1997)
4. Chye Kuok Khoon-ho (1997–2002)
5. Edward Kuok Khoon-loong (2008–2009)
6. Kuok Khoon-ean (2009–2013)
7. Beau Kuok Khoon-chen (2013–2017)
8. Lim Beng Chee (2017–2022)

See also

• Kerry Properties
• Robert Kuok

References

External links

• Official website

This page was last edited on 1 June 2024, at 19:08