Ong Beng Seng-owned Hotel Properties' Vanuatu resort damaged by cyclone

SINGAPORE - Hotel Properties disclosed that its resort, Holiday Inn Resort Vanuatu, located at Port Vila, Vanuatu, has been damaged by Cyclone Pam on March 13.

The Holiday Inn Resort Vanuatu operates a 164 key hotel and villa with casino in Port Villa.

In a statement to the exchange, Hotel Properties, controlled by tycoon Ong Beng Seng, said the full extent of the damage to the resort has yet to be established and the assessment of the damage will be done by professional consultants as soon as practicable.

No casualty has been reported at the resort, which is covered by comprehensive insurance policies that include property damage as well as business interruption.