Shangri-La Asia Limited said on Feb, 26 2026 it has entered into two new agreements with Shang Global City Properties Inc. covering the management and operation of Shangri-La The Fort, Manila.

Under a hotel management agreement, Shangri-La International Hotel Management Pte Ltd (SLIM-SG) will provide management, marketing, reservation and related services to the property for an initial term starting Mar, 01 2026 and ending Dec, 31 2028, with options for further renewals of up to 10 years in total.

A separate proprietary technology services agreement appoints Shangri-La International Hotel Management Ltd. (SLIM-HK) to supply technology products and solutions to the hotel over the same period.

Fees payable by Shang Global City Properties comprise incentive management, sales and marketing, royalty, branding, training and other charges based on fixed amounts or percentages of the hotel’s revenues and profits. Aggregate annual caps for these fees are set at 12.0 million US dollars for the year ending Dec, 31 2026, 12.6 million US dollars for 2027 and 13.5 million US dollars for 2028, after which the parties may renew the contracts.

The hotel owner is deemed a connected person because 60% shareholder Shang Properties Inc. is an associate of Kerry Properties Ltd., a subsidiary of Kerry Holdings Ltd., a substantial shareholder of Shangri-La Asia. As the annual caps are above 0.1% but below 5% of the applicable percentage ratios, the deals are subject to Hong Kong Stock Exchange announcement and reporting requirements but exempt from independent shareholders’ approval.

The board said the transactions are in the ordinary course of business and on normal commercial terms, adding that none of the directors has a material interest in the agreements.