The acquisition was just completed in '03, but it hasn't been built yet

The agreement was signed on August 18 between Hainan First Investment Group Co. Ltd. and the internationally renowned Shangri-La Hotels and Resorts Group to **** together the construction of the Shangri-La Hotel Haikou.

The Shangri-La Hotel Haikou will be transformed from the former Sinochem Tower in Haikou, which was built in 1993 by Sinochem Hainan, a subsidiary of the China National Chemical Import and Export Corporation. In April 2003, the First Investment Group of Hainan formally completed the acquisition of the Sinochem Tower project, and after a comprehensive assessment and demonstration, decided to build it into the most luxurious and most complete conference function in Hainan, a super business hotel. Super business hotel.

As a landmark landscape building in Haikou, the future Shangri-La Hotel, Haikou will be located at a height of 170 meters on Haikou Esplanade, becoming the new king of Haikou. The hotel's biggest highlights are the only 38-meter-high atrium lobby in China, the highest sightseeing floor in Hainan, the largest (1,000-square-meter) column-free multifunctional ballroom in Hainan, and as many as 10 high-speed elevators and 10 luxury escalators to provide guests with the most convenient and speedy services.

Shangri-La Hotel, Haikou covers an area of more than 18,000 square meters, with a building area of more than 78,000 square meters, 4 floors underground and 40 floors above ground, with nearly 400 guest rooms. The total investment is about 500 million yuan, and the total cost of each set of rooms is between 100,000 and 150,000 U.S. dollars. Hainan First Investment Group is the investor and owner, by Asia's largest luxury hotel management group - Shangri-La Hotels and Resorts is responsible for the management