HK & Shanghai Hotels CEO on Results, Business Strategy

The video discusses the challenges faced by the hospitality industry in Hong Kong due to lockdowns and restrictions. It highlights the recovery seen in other regions and the strategies employed to manage costs and maximize local business. The discussion also covers diversification efforts, talent management, and the impact of COVID-19 on the labor market. Financial resilience and long-term investment strategies are emphasized, with a focus on new hotel projects in London and Istanbul. The video concludes with an update on the suspended project in Myanmar.

What was one of the main sources of revenue for the hospitality business in Hong Kong during the lockdown?

• Corporate events

• Online retail

• Local staycations

• International tourism

Why is diversification challenging for the hospitality company discussed?

• Limited staff expertise

• Insufficient market demand

• Inability to move hotel locations

• Lack of financial resources

What has been a significant challenge in the labor market for the hospitality industry during COVID-19?

• Decreased customer demand

• Increased competition from other sectors

• Lack of training programs

• High turnover of experienced staff

What strategy has the company implemented to support staff during the Omicron wave in Hong Kong?

• Special eight-week support program

• Increased salaries

• Remote work options

• Flexible working hours

What is the company's approach to managing long-term investments despite current challenges?

• Selling off existing assets

• Maintaining a long-term perspective

• Reducing investment in new projects

• Focusing on short-term gains

What is the status of the hotel project in Myanmar?

• Completed and operational

• Suspended

• Cancelled

• Under construction

What is a key feature of the new hotel location in London?

• Views of Buckingham Palace Gardens

• Located in the financial district

• Proximity to the Eiffel Tower

• Near the Sydney Opera House