The Furama Hotel () was a 33-storey hotel in

Central Central is an adjective usually referring to being in the center of some place or (mathematical) object. Central may also refer to: Directions and generalised locations * Central Africa, a region in the centre of Africa continent, also known as ...

, Hong Kong, located at 1 Connaught Road Central. The site is now occupied by the AIA Central office building.

History

The Furama Hotel was designed by Eric Cumine Associates and built for the Furama group in 1973. It had 33 storeys and a total height of , with a revolving restaurant on the top floor named "La Ronda".

Inter-Continental Hotels Intercontinental is an adjective to describe something which relates to more than one continent. Intercontinental may also refer to: * Intercontinental ballistic missile, a long-range guided ballistic missile * InterContinental Hotels Group (I ...

Ltd. assumed management in 1976, and the hotel was named Hotel Furama Inter-Continental. In 1990 the hotel was acquired by Kempinski and renamed the Hotel Furama Kempinski Hong Kong. Lai Sun Development (LSD) acquired the hotel's parent company, Furama Hotel Enterprises, in June 1997 for HK$7 billion.Dennis Eng
A little less debt for ailing Lai Sun
, ''The Standard'', 18 November 2002 This was done by acquiring a 45.42 per cent stake for $3.13 billion, and a general offer at $33.50 for each remaining shares at a total cost of $6.893 billion.Veronica Luk
Furama stock skyrockets after Lai Sun stake purchase
, ''The Standard'', 21 June 1997 To finance the acquisition, the company

geared A gear is a rotating circular machine part having cut teeth or, in the case of a cogwheel or gearwheel, inserted teeth (called ''cogs''), which mesh with another (compatible) toothed part to transmit (convert) torque and speed. The basic pr ...

itself up heavily taking on $5 billion in bank loans and issuing bonds for more than $2 billion.Clare Cheung
Lai Sun in move to bail out unit
, ''The Standard'', 11 March 2000 While the other Furama Group hotels were integrated into the hotels division, Lai Sun Hotels, the Furama plot was to be combined with the Ritz Carlton plot, which it already owned, for redevelopment into a prime office block. Then the Asian financial crisis struck, plunging the entire group into distress and forced asset sales. In March 2000, LSD announced that a 65% stake in the Furama would be sold to a 50:50 joint venture between Pidemco, controlled by Temasek Holdings, and AIG for HK$1.88 billion.AIG joins Pidemco in $1.88b bid for 65pc of waterfront site
, ''The Standard'', 1 March 2000 As part of the deal, Lai Sun would continue to operate the hotel until its redevelopment, at an annual rental of HK$145 million. Together with CapitaLand, and AIG, LSD formed Bayshore Development Group to develop AIG Tower, a 39-storey commercial office block with a gross floor area of . AIG and CapitaLand each own 35 per cent, and Lai Sun owns 30 per cent. The Furama closed in November, and was demolished in December 2001. Reuters story
Lai Sun joins $4b office venture at Furama site
, ''The Standard'', 30 July 2002

References

External links

CTBUH entry

Corporate website
Furama Group {{coord, 22.281357, 114.161908, display=title 1973 establishments in Hong Kong 2001 disestablishments in Hong Kong Central, Hong Kong Defunct hotels in Hong Kong Former skyscrapers Demolished hotels Hotel buildings completed in 1973 Hotels established in 1973 Hotels disestablished in 2001 Buildings and structures demolished in 2002 Skyscraper hotels in Hong Kong Demolished buildings and structures in Hong Kong