One of the most unique parts of the Phnom Penh skyline, the iconic Sokha Hotel has been put up for sale, but before you grab your wallet, owners are asking for a whopping $1.5 billion to take ownership.
Why is the Sokha Hotel Phnom Penh up for sale?
Much like most sales it is believed to be all about the money, with the proceeds from any potential sale going towards paying debts and other investments.
The owner of the hotel, Sok Kong, is a renowned billionaire and Chairman of the Board of Sokimex Investment Group, has stated that he wants to sell in order to invest in the new Bokor development in Kampot province.
To read about Bokor Hill click here
What’s the story behind the Sokha Hotel?
Sokha Hotels are a mainstay of the high-end Cambodian hotel scene, with branches in Phnom Penh, Siem Reap and Sihanoukville. The Sihanoukville venue was recently the host for the 2022 ASEAN Tourism Forum, which drew thousands of visitors from around the globe, with the hotel considered one of the most deluxe in the city.
To read about ATF 2022 click here.
The Phnom Penh branch of the hotel lies across from the infamous nightlife of the Riverside in Phnom Penh, as well as SEAPS very own Harry’s Bar. The hotel boasts 523 rooms and is located on the Chroy Changvar peninsula approximately 13 km from Phnom Penh International Airport. Guests are treated to some of the best views of any hotel in the city, including that of the Royal Palace.
Despite the air of luxury it exudes it has since gained a slightly less favourable reputation after being used as “Covid Hotel” following the February 20th incident, which led to Cambodia being placed in lockdown.
How serious is the price?
Quite whether the hotel is worth $1.5 billion is up for debate, with the hotel owner stating this was the minimum he would consider selling it for, so think of it as less üp for sale” and more open to offers”.
If you are looking for a hotel, but don’t necessarily have a budget running into the billions, then let SEAPS help find you a more appropriate property by contacting us.