Furama Hong Kong Hotel
| Company type | Hotel |
|---|---|
| Industry | Hospitality |
| Founded | August 18, 1973 |
| Defunct | November 2001 |
| Headquarters | Central, Hong Kong , Hong Kong |
| Products | Hotel accommodation and services |
The Furama Hotel () was a 33-storey establishment situated at 1 Connaught Road Central in Central, Hong Kong. The location is currently occupied by the AIA Central office tower.
History
Designed by Eric Cumine Associates, the Furama Hotel was completed on 18 August 1973. It rose to a height of 361 feet and included a revolving dining venue named "La Ronda" on its uppermost floor.
In 1976, management of the hotel was assumed by Inter-Continental Hotels Ltd., which led to its renaming as Hotel Furama Inter-Continental. Subsequently, in 1990, Kempinski acquired the property and rebranded it as Hotel Furama Kempinski Hong Kong.
In June 1997, Lai Sun Development (LSD) acquired Furama Hotel Enterprises by purchasing a 45.42% stake for HK$3.13 billion and launching a general offer at HK$33.50 per share for the remaining shares, amounting to a total of HK$6.893 billion. To fund this acquisition, LSD secured HK$5 billion in bank loans and issued bonds exceeding HK$2 billion.
LSD intended to redevelop the Furama site alongside the neighboring Ritz Carlton plot into a high-end office complex; however, the financial turmoil during the Asian crisis created financial challenges that compelled asset disposals.
By March 2000, LSD revealed plans to sell a 65% interest in the Furama property to a joint venture formed by Pidemco (under Temasek Holdings) and AIG for HK$1.88 billion. Despite this sale, Lai Sun continued hotel operations under an annual lease agreement valued at HK$145 million. LSD collaborated with CapitaLand and AIG to establish Bayshore Development Group, which developed the AIA Central office building—a commercial tower comprising 39 floors and approximately 450,000 square feet of space. The ownership structure allocated 35% each to AIG and CapitaLand, with LSD retaining 30%. The Furama Hotel ceased operations in November 2001 and was demolished the following month.
External links
- CTBUH database listing
- Official website, Furama Group (archived as of 16 May 2014)
- Establishments in Hong Kong in 1973
- Hong Kong disestablishments in 2001
- Central, Hong Kong district
- Hotels in Hong Kong no longer operating
- Former high-rise hotel buildings
- Hotels that have been demolished
- Hotel structures completed in 1973
- Hotels founded in 1973
- Hotels closed in 2001
- Buildings demolished in 2002
- High-rise hotels in Hong Kong
- Demolished structures in Hong Kong
- Defunct hotels in Hong Kong