Shangri-La Asia Limited was founded in 1971. Shangri-La Asia Limited, an investment holding company, owns, operates, and manages hotels and associated properties primarily in Hong Kong, Mainland China, Singapore, Malaysia, the Philippines, Japan, and Thailand. It also provides hotel management, marketing, consultancy, reservation, and related services to third party owners. The company also engages in the ownership and leasing of office, commercial, residential, and serviced apartments; and ownership and operation of a golf club. In addition, Shangri-La Asia involves in the real estate development activities. It operates its hotels primarily under the Shangri-La, Traders, Rasa, Summer Palace, and Shang Palace. As of December 31, 2009, the company had equity interests in 49 operating hotels comprising 24,432 guest rooms. It had 16 management agreements in respect of operating hotels owned by third parties and had agreements for development of 14 new hotels in Doha, Toronto, Seychelles, Bangalore, Mumbai, Macau, Moscow, Chongqing, and Iskandar.