UPDATED: UOL eyes Pan Pac

Singapore - United Overseas Land (UOL) has entered into a sales and purchase agreement which will see the company eventually acquiring the Pan Pacific hotel brand.

The move is in line with the company's bid to become a key player in the hotel scene in the region and brings the Pan Pacific brand name into the UOL portfolio, which will see the company operating the 12 hotels in the Pan Pacific Group. UOL also owns eight properties which operate under the Sheraton, Sofitel and Crowne Plaza brands and a further five properties which it owns and operates under the Parkroyal brand.

Gwee Lian Kheng, president and CEO of the UOL Group said from a business standpoint, the group now has "a total of more than 8,900 rooms which means we greatly strengthen our marketing platform, gain the ability to penetrate both mid and high-end business and leisure travellers".

"From a brand perspective, we now become one of the biggest Singapore-based operators in Asia Pacific - that will boost our objective to grow both the Pan Pacific and Parkroyal brands aggressively," Gwee said.