Shangri-La Asia to invest HK$4b to refit new hotels

Salomon Smith Barney analysts pointed out when meeting Shangri-La Asia (0069) management that the company planned to invest US$400 mln to develop new hotels in the following 3 years and inject US$130 mln to repair hotels in the coming two years. Though the earnings rate rose 4% from the same period last year, that in mainland remained stable.

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