Although the residential property market is seeing price corrections and challenges in Cambodia, as they are across the region, two commercial property groups, data centres (which we have flagged before as seeing potential growth in the Kingdom due to the digitalisation and logistics drive taking place), and hotels which form a crucial part of developing the tourism sector have not faltered, with several well-known hotel brands launching in Cambodia in 2024, or have been announced.
Not limited to this year, but new hotel openings in Cambodia have included brands such as the Hyatt Regency, Novotel, Tribe, Ibis Budget, Fairfield, Citadines and others bringing the hotel room stocks in Phnom Penh alone to over 15,000.
New 2024 Hotel Launches In Cambodia
Novotel Sihanoukville Holiday Resort
Novotel Hotels, Suites & Resorts opened two new hotels in Cambodia in 2024. The hospitality brand is part of the Accor group, and in Q1, the Novotel Sihanoukville Holiday Resort opened which was their first Novotel property in Cambodia.
At the time of the opening, Garth Simmons, Chief Operating Officer of Accor’s Premium, Midscale and Economy Division in Asia said, “With the growing potential in Cambodia’s hospitality sector, we are thrilled to introduce the Novotel experience to the country for the first time.”
The hotel resort is located in Independence Beach, the 215-key resort has four dining options (Food Exchange, Aqua Bar & Grill, Gourmet Lobby Bar & Café, Domrei Bar & Cigar Lounge), as well as offering family-friendly facilities. The property also has a beachside infinity pool and a separate kids’ pool.
The hotel offers eight room configurations, ranging from 32 sqm Standard Rooms to more high-end 96 sqm Suites that feature bathtubs and wrap-around terraces. There are also interconnecting rooms available catering to family and group vacations.
Sihanoukville International Airport is 25 km from the hotel, and thanks to the Phnom Penh-Sihanoukville Expressway, a 2.5-hour drive away from the capital.
Novotel Phnom Penh BKK 1
Following the launch of its coastal property, Novotel Phnom Penh BKK 1 also opened in mid-2024 with a social hub and a range of dining and wellness options in the centre of the Cambodian capital.
Garth Simmons said the launch reaffirmed their commitment to “contributing to the growth of the hospitality and tourism industry in the flourishing Asian region,” and the property is the 9th Accor hotel in Cambodia.
Novotel Phnom Penh BKK 1 offers 254 guestrooms, from superior to executive suites, guests in the latter enjoy access to the Executive Lounge on the 20th floor, which offers private meeting spaces for work or social interactions. F&B options include Makila, Kaixo, Rosemary Pool Bar, and In Balance.
Chaiya Palace Hotel - Phnom Penh
The hotel also opened in mid-2024 in Phnom Penh in Chaktomuk Commune, Daun Penh District. The Chaiya Palace Hotel’s 80 rooms feature private balconies, while the property also has an infinity pool with 360-degree views of Phnom Penh. The spa, sauna, and steam room are available to guests and F&B choices include; Savory Restaurant, a rooftop Sky Bar, and a VIP lounge.
By Q3 2024, the majority of hotels in Phnom Penh were located in the capital's central Sangkats and accounted for more than 83 per cent of the total existing supply in the capital. More than half of the category of hotels will be Luxury and Upper Upscale according to recent reports.
Don’t forget to attend the Realestate.com.kh Property, Business & Lifestyle EXPO 2024 in October.
Hotels Under Development In Cambodia
More than 3,500 hotel rooms are in the future pipeline in Phnom Penh, and most upcoming properties are in the capital but Siem Reap and the coast should see more developments added.
Angsana Siem Reap
The Singaporean multinational hospitality group Banyan Tree Holdings Limited (Banyan Group) announced in early 2024 that they would launch a hotel and resort project in Cambodia.
Located in downtown Siem Reap, it was initially expected to open in the third quarter of 2024, but now seems likely to open its doors in 2025. The brand has also now partnered with DARA Hotels in Cambodia and the Angsana facilities include a lagoon-style swimming pool while all villas include a private pool. In total, there will be 158 keys with a mixture of 129 Deluxe rooms, 10 Suites, and 19 Villas.
On site, there will be 5 food and beverage outlets; Three Meals Restaurant, Apsara Bar, Angkor Bar, Saffron, and Firefly Bar. There will also be MICE facilities, a spa, and a fitness centre.
Ritz-Carlton Phnom Penh
The Ritz-Carlton Phnom Penh was announced this month in August 2024 and is a partnership between Royal Group International and Marriott. The hotel and residence will be located on Norodom Boulevard and form part of a broader trend of luxury brand expansion in Cambodia.
Although actual details were scarce, the luxury hotel will feature five restaurants and the development is another integration of a hotel into a broader multi-facility property development that also offers residential and office spaces. The opening date was not specified.
Radisson Hotel Group & Prince Real Estate Group - Prince Happiness Plaza
The two firms announced in Q1 2024 that they had signed an agreement to introduce two of the hotelier’s branded hotels to Phnom Penh’s hospitality sector by 2026.
Both the Radisson RED Phnom Penh and the upscale Radisson Blu Hotel & Residences, will form part of the integrated Prince Happiness Plaza, a mixed-use development that will comprise high-end retail, dining and commercial elements.
At the time of the announcement, Mr. Ramzy Fenianos, Chief Development Officer, Asia Pacific, Radisson Hotel Group, said: "We are thrilled to announce this important partnership, which provides the perfect opportunity for Radisson Hotel Group to make its debut in Cambodia. This is a key emerging market with vast potential for business and leisure travel, so this dual-branded development will add considerable value to our company's rapidly expanding portfolio in South East Asia."
Radisson Blu Hotel & Residences Phnom Penh
The Radisson Blu Hotel & Residences Phnom Penh is expected to offer 250 keys and include 160 guest rooms and serviced apartments and 90 branded residences, which will include studios up to three-bedroom residences. The property will offer a rooftop swimming pool and a sky bar.
Radisson Red Hotel Phnom Penh
This property will comprise 200 suites with deluxe and one-bedroom suites. The four-star hotel experience will also provide a co-working space, a reading lounge, and event venues to cater for business and social events.
Find out why BKK1 Remains The Most Sought After Area in Phnom Penh.
Shangri-La Phnom Penh Hotel
There have not been any firm concrete updates on when this luxury hotel will open in the Cambodian capital, but it's due to be part of the premium mixed-use tower The Peak and was due to include 303 rooms, offer five dining options, a spa, and extensive event spaces.
The accommodation ranges from rooms, suites and apartments sized between 45 sqm to 135 sqm, while the 51st floor will have a health club and a spa.
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