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XIAMEN, China – Philippine property giant SM Prime Holdings Inc. has diversified its real estate portfolio in China, birthplace of the late SM group founder Henry Sy Sr., with a 450-million yuan (P4-billion) investment in an upscale hotel in this coastal city.
Voco Xiamen SM City is a 325-room hotel within its most mature property asset in mainland China, the 12-hectare SM City Xiamen that also hosts five office towers and a massive shopping complex developed in three phases over the last 25 years.
READ: SM enters China hotel business
The hotel that opened last June is the first Voco hotel managed by global hospitality group IHG Hotels & Resorts in Fujian Province.
