CDL’s Kwek Leng Beng aims to treble the group’s hotel numbers to 500

[SINGAPORE] If City Developments Ltd (CDL) executive chairman Kwek Leng Beng’s plans come to fruition, the group’s portfolio of hotels – including those under subsidiary Millennium Hotels & Resorts (MHR) – will treble in size, with some 500 properties dotted around the globe.

“My personal vision and dream is for our group to expand our portfolio to 500 hotels, with hundreds of our Singapore flags flying on our properties in key cities around the world,” the billionaire told The Business Times.

CDL, which is listed on the Singapore Exchange, has over 160 hotels in its portfolio. Subsidiary MHR operates over 145 hotels worldwide, with 37,000 rooms in total. Of MHR’s hotels, over 60 are owned by the group through Millennium & Copthorne Hotels.