Hong Kong hotel group outlines global expansion ambitions
Hong Kong-based Regal International Hotels is eyeing London as part of international expansion plans.
The group is discussing projects in a number of regions, including North Africa, the Middle East and Indian Ocean.
Other areas being considered for development include Bulgaria, Turkey, the Ukraine and the west coast of North America.
The company currently has five hotels in Hong Kong with 6,000 rooms and three in mainland Chine, with a fourth due to open in August. Two five-star properties are also planned for Chengdu for late this year and 2010.
Business development president Richard Hodges, speaking in London, said the group had the capability to expand to around 35 hotels worldwide, ranging from resorts to boutique properties across four brands.
He described the likelihood of a Regal four or five-star hotel in London as being 70/30 in favour of coming to fruition.
Hodges said that while costs were being cut behind the scenes in the current economic climate, opportunities were presenting themselves for future growth around the world.
“The glass is half full,” he said. “It’s not all doom and gloom. There are a lot of great opportunities around the world.
“We are in expansion mode and are finding that a lot of people are interested in talking to us.”
First quarter occupancies in Hong Kong dipped to a 75% level from previous levels of 82% mainly du to a decline in long-haul business from the UK and North America. However, other source markets such as China, Asia/Pacific, the Middle East and India are faring much better, according to Hodges.
“People’s attitudes need changing so there is more confidence in travelling,” he added.
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