Fan Tong, head of Regal Hotels International (RHI), has disclosed to the media that the rental of five hotels managed by RHI has increased by 20% this year and it may increase more later in the year.
Fan says that of the five hotels in Hong Kong, four are under reconstruction and work is expected to be completed in succession by 2008. After the construction and decoration is complete, the rent for the hotels will greatly increase.
Regal Hotels International (RHI) is one of the largest hotel group in Hong Kong. It currently manages five hotels in the local region and operates two hotels in Shanghai.