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By Chris | May 11 2013
Property developer Sung Hung Kai Properties (SHKP) Hotel Division led by former Ritz-Carlton executive Ricco de Blank already owns Hong Kong’s Ritz-Carlton, Four Seasons and W. Additional properties include Ritz-Carlton Shanghai and The St. Regis Shanghai Pudong.
SHKP recently acquired a prime tract of property in North Point for $350 million where De Blank tells Elite Traveler, “a to be determined harbor front hotel” will rise.
Other projects for SHKP under development include Park Hyatt, Hangzhou, Four Seasons Hotel Suzhou, Conrad Guangzhou, Five Star Hotel Nanjing and Five Star Hotel Chengdu.
What luxury companies currently have a gap in Hong Kong? Fairmont, Raffles, Jumeirah, Dorchester Collection, Waldorf-Astoria (sister brand Conrad is already represented although Hilton is missing) and St. Regis (although other Starwood brands W, Sheraton and Le Meridien are there while Westin is also absent). Banyan Tree CEO Abid Butt recently said his plans include more high-rise hotels in cities.
Needless to say a harbor front location on Hong Kong Island will definitely have a long sign of suitors.