THE Singapore-based UOL Group Limited (UOLG) last month acquired Pan Pacific Hotels and Resorts Pte. Ltd, whose portfolio includes the Parkroyal Hotel chain, from Tokyu Corporation of Japan.

“We are pleased to have concluded the purchase of this upscale brand and believe this strategic investment will further UOLG’s aim to be a global hospitality management company,” said Mr Gwee Lian Kheng, president and CEO of UOLG in a statement released July 5.

“We are excited to be part of the UOL Group and this marks a new chapter for the company and the brand,” said Mr Kevin Croley, the vice president of sales and marketing at Pan Pacific Hotels and Resorts.

UOL Group Limited was established in 1963 and now owns 13 hotels in Singapore, Sydney, Perth, Kuala Lumpur, Penang, Ho Chi Minh City, Hanoi, Yangon and Suzhou.

Pan Pacific Hotels and Resorts has a portfolio of 11 hotels and resorts throughout Asia, the Pacific and North America and offices in San Francisco, London, Singapore, Hong Kong and Tokyo. It is a founding member of the Global Hotel Alliance.