(April 18, 2002) The Sheraton Shenyang Lido Hotel, located in Shenyang city, Liaoning province, recently opened its doors with a soft opening ceremony officiated by Mr H L Kam, Chairman of the Sheraton Shenyang Lido Hotel and Deputy Managing Director of the hotel's owning company, Cheung Kong (Holdings) Ltd.

Since its soft opening, the Sheraton Shenyang Lido Hotel has achieved an average occupancy rate of over 70%, and booking enquiries have been streaming in. The hotel's restaurants, which are packed with customers regularly, have also generated very favourable reviews.

A province rich in mineral resources featuring heavy industry as the mainstay of its economic development, Liaoning is the second highest steel-producing province in China. Its provincial capital, Shenyang, a city with 2,000 years of history, is today the gateway between northeast China and the rest of the world. It is the country's north-eastern centre for industrial, scientific and technological development. In recent years with the influx of foreign investments, many multinational corporations, including Toshiba, Sanyo, Siemens, General Motors and Pfizer, have set up joint-venture companies in the province.

Among the many ventures, hi-tech industries have shown the greatest potential and fastest growth. These technology products made up 12.5% of the total value of industrial production in year 2000. In June 2001, the Liaoning Provincial Government announced a plan which call for heavy investment in industries such as telecoms, energy, automobile and high technology over the next five years. At the same time, the government confirmed its intention in building a new software development area in Shenyang city.

Mr Kam said, "Sheraton Shenyang Lido Hotel has the advantage of being conveniently located close to the CBD, the city's governmental offices, the Shenyang Hunnan New Urban Area High-Tech Industrial Development Zone and Shenyang (International) Exhibition Centre; and the airport is only 20 minutes away."

The hotel is elegantly designed, with a spacious lobby, a grand marble staircase, luxuriously furnished rooms, and features state-of-the-art telecommunications facilities, such as 10M internet access through broadband in all guest rooms. To meet the needs of the discerning business traveller, broadband network has been installed in all the guestrooms. From ground to third floor, mobile communication systems have been set up and teleconference facilities are also available.

Mr Kam commented, "In Shenyang, there are not many five-star hotels. China's entry into the WTO has resulted in an increase of local and foreign investments into various parts of China, and the demand for hotel rooms has increased accordingly."

"The Sheraton Shenyang Lido Hotel, with its comprehensive business facilities, well-appointed, comfortable guestrooms and elegant decor, is now probably the best hotel in the Liaoning Province. I am confident that the hotel will soon become the most sought-after hotel accommodation for business travellers to the city." Mr Kam concluded.