Shangri-La Opening Affords Ulaanbaatar a Taste of Luxury
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Six years after construction began, Shangri-La Hotels and Resorts opened its first property in Mongolia Wednesday to target business travelers seeking opportunities in the nation’s nascent mining economy.
The 290-room hotel and adjoining retail and office complex in downtown Ulaanbaatar represent a $500 million investment, according to MCS Group, Mongolia’s largest conglomerate with real estate and construction businesses, and a joint owner of the development.