Approval has also been given for two iconic buildings to be converted into hotels.
It opened its first hotel under the Pentahotel brand in Hong Kong at San Po Kong in Kowloon in August 2013 and is seeking opportunities to build four more hotels in Hong Kong.
In recent years some historic buildings have been given a new lease of life by being converted into hotels.
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The 393-room Rosewood Hong Kong will open in 2018 and occupy 27 floors of the 63-storey building whilst Rosewood Residences will offer long term accommodation in 199 units on 19 floors.
Rosewood operates over 40 hotels under the three brands in 14 countries including 16 under the Pentahotel brand in Europe and Asia and has a target of 80 hotels globally by 2020.
However, the tender deadline of November 2011 for Ocean Hotel lapsed with no agreement being reached with tenderers for development of the hotel, required to build and operate the hotel, sharing the profits with Ocean Park, but ownership of the hotel would be surrendered to the park after 30 years.
In January 2013 the park re-invited tenders for the six-floor 495 room hotel on a more favourable basis which resulted in seven bids by the April 2013 deadline.
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