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Hongkong & Shangai Hotels CEO on Business

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    Hongkong & Shangai Hotels CEO Clement Kwok weighs in on the hotel market.

  • Duration 4:09
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And and twelve.

We'll start what head south Intercontinental hotels Marriott International -- worldwide making major in roads in China.

The US and European tell giants all finding their brands among the top ten most search hotels in China.

-- -- -- CEO Asia's oldest hotel company the Hong Kong and Shanghai hotels limited.

Joins me now your company of course the parent of the president's -- sales.

And you also made outlets as well but what are things -- financing about that data was that.

It seems that the Sheridan the first big American company to get that China is still -- their what so different about the culture there.

Of course China is a developing country and of course we're seeing many more Chinese travel all over the world now.

Now close -- different market segments there -- Chinese who would go for very high luxury accommodation some may be more business hotels in mid markets.

So I think the Chinese you know and learning about different brands and what they represented in terms of the customer experience they expect to find.

I -- because obviously Shanghai is your and they -- is that mean this is your hometown you've seen huge revenue growth in Tokyo.

So really are seeing that Asian traveler that Asian market that has -- it is -- corporate customers that was an international business that's boosting the hotel's back.

Actually for us it's both of course high -- -- -- customers are very important to us but also a measure customers in fact.

We focus on -- Colby unmanaged travel up.

This is a traveler who's not really part of a big coal prep you know -- deal but making their own individual decisions as to which -- -- -- to stay.

So we have fabulous hotels in Hong Kong and Tokyo in Shanghai in Bangkok in Asia as well as -- hotels in the US president -- chemist two we chose.

Beverly Hills New York you've got Chicago the Beverly Hills property revenue up 22% in the first half of this year -- Is so are we saying a United States rebound in the luxury market do you think.

Would certainly seen some rebound since the global financial crisis.

But you know there's more international customers coming as you say.

Said you know customers coming from China as well so you know we -- long term holders -- long term illness -- volatile assets.

And so you know we will continue to invest in the long term and we see that business coming.

-- -- and -- comment on the Wall Street Journal used said that many.

Brands -- looking at US chains are not -- and many other brands are so short sighted.

And that we are our culture isn't it we -- we think long term we think twenty years twenty -- years you know we don't sweat the small.

(%expletive) the up cycle the down cycle and -- that you run the business overall.

Well one thing I think that fewer companies are doing now in the hotel space is still being and we'll know and -- -- -- of hotel assets.

He and there are many cases now -- -- only is different from the hotel management off pretty -- Now as the -- there what we do is we invest a lot for the long term so for instance -- flagship property the business to Hong Kong.

We have just for the substantial investment to further upgrade -- rooms and we've created what we believe to be a new generation of hotel rooms.

But very you know very good technology.

With a great design and we continue to invest like that to keep the quality of our assets up.

-- -- still a lot of money during the economic downturn what I think is -- especially about that particular properties you've you've been stalled.

Basically it tablets for everywhere and so I won't -- hotel room with my tablet and that controls the entire remic controls room service like -- order walls rise if I need one.

I mean that he can obviously put a lot of capital into that that was a big.

Well I think you know where unusual in that we have an in house research and development facility.

To develop technology for hotel rooms but you're right the new technology we have that all in touch screens you have a -- -- that you can take around the room.

All of the panels on the -- also touch screen.

For instance if you press 1000 you can change the language on all of a touch screens to Chinese or Japanese so whatever to suit the guests' needs.

That tablet controls everything in the room from cousins to lights to you know the entertainment system and so on.

-- -- -- Peninsula hotels and just Amy spent that much money and I know I want exit cannot thank you very -- and let these companies it thank you.

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