Regal Hotels Group has secured a contract to open a new 1,000-room hotel at Hong Kong International Airport (HKIA), the South China Morning Post reports.

Capital Charm group, a wholly owned subsidiary of Regal, attained the contract following a HK$2.19 billion (US$282 million) offer, which was accepted on Thursday.

The new property is set to occupy a site area of 6,650 sqm and forms part of HKIA’s plans to develop a 668,000 sqm Skycity integrated complex near the airport’s Terminal 2. The new Regal is due to open in 2020 as part of the first stage of the Skycity development, along with 195,000 sqm of retail, dining and entertainment space.

Regal’s new property will be the group’s second at the airport, following the existing Regal Airport Hotel. The group operates a further ten properties in Hong Kong and 22 in mainland China.