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Hotel Properties to develop luxe hotel in Pacific island of Palau

PC Lee Published on Thu, Sep 07, 2017 / 7:26 AM GMT+8

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SINGAPORE (Sept 7): Hotel Properties Limited is planning to develop a luxury hotel on the Pacific island republic of Palau.

On Wednesday, it announced that subsidiary, HPL Properties (Pacific Ocean) has incorporated a wholly owned unit Leisure Development Koror Inc to acquire land on the island at US$8.5 million ($11.4 million) for that purpose.

The incorporation of the new unit and the land acquisition will be funded by way of internal funds.