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Hong Kong legend hotel fell off Has been approved by the reconstruction of malls

Date: 2018-11-11

Recently, the luxury hotel chain of the Mandarin Oriental (Mandarin Oriental) announced that it had 45 years of history of Hong Kong excelsior closing in March next year, the group is expected to spend about $650 million spent 6 years to rebuild a mall on the site.Market participants expect that prospective buyers will rebuild fulfill seaview building and shopping mall, valuations to hk $30.8 billion by 27 billion.If the deal goes well, will be in Hong Kong has always been the most large property clinch a deal.


Excelsior adjacent to Victoria, sea Hong Kong at noon cannons is rear.Opened in 1973, is one of the largest hotel in Hong Kong at that time, the plot was Jardine (Jardine Matheson) warehouse, as well as a British colony in 1841 when the first piece of public auction of land, its location number still for Lot no. 1.


The history and luxury hotel is full of all sorts of stories.Liang Dashu, is on the tip of the tongue China promoting of five Chinese chef, worked in 1995-2000 as excelsior management team of the Hong Kong Chinese executive chef.Have the reputation of "the multiplex tycoon" sixth uncle Sir Run run often stay in it;East hin of delicate cantonese cuisine and local specialty is repeatedly won the Hong Kong tourism board won the gold award in the "most of the food is great reward.


However, the prosperity of Hong Kong excelsior next march.Hong Kong hotel industry growth has stalled, while the supply of office buildings appear relatively nervous, excelsior transition may be a strategic plan.Mandarin Oriental, excelsior, considering selling last year there were media reports, sun hung kai properties has also bid, the highest bid of about 27 billion yuan.But because of not fully meet the requirements of the mandarin Oriental expectation or trading, eventually group decided to rebuild itself.


Five years ago, there was city task force prediction, because of the tourism industry growth, especially the increase in the number of tourists from mainland China, Hong Kong hotel guest room number should be increased nearly 1 times.


Compared with previous years, however, the peak, tourism declined in recent years.At present, the Hong Kong tourism is a warming trend, but the hotel industry is still in a slow recovery.


At the same time, considering the hotel investment cycle, market trends and returns, and so on, after including rich hotel, Java, Henderson land developers are comments or make the choice of hotel renovation mall.The rich hotel said publicly that saturated core hotel demand, development of shopping malls in return "more substantial".


According to the Hong Kong media reported recently, excelsior, Hong Kong has in mid-september section, finally released by market participants several consortium, named only sun hung kai, societe generale, Chinese real estate and Evergrande consortium.Among them, the sun hung kai layout wtcmore and around the world trade center project, is refers to the bid for the highest;Evergrande in 2016 to hk $12.5 billion buying Chinese estates wanchai property is a major concern.


Although Hong Kong's future after the excelsior rebuilding shape remains to be seen, but there is no doubt that it will continue to be a legend in the history of Hong Kong hotel.