Shangri-La Hotels (Malaysia) Renews Management Agreements

MT Newswires Live12:22

Shangri-La Hotels (Malaysia) (KLSE:SHANG) said its units have signed five-year management deals with Shangri-La Hotel Management (MY) for Rasa Ria Resort & Spa and Dalit Bay Golf & Country Club in Sabah, Malaysia.

The agreements, effective June 22, cover hotel and golf club management, sales and marketing, and reservation services. They replace previous agreements that expired on June 21, according to a Thursday Malaysian bourse filing.

The total fees payable under the agreements over the initial five-year term are estimated at 29.4 million ringgit.

The company said the agreements allow the resort and golf club to continue using the Shangri-La brand and sales and marketing network.

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