The 16-story hotel comprises 389 hotel rooms as well as retail space on the first four floors. The building is well-positioned to continue to profit from growing demand for hotel space in Hong Kong and increasing retail sales, according to Pamela Alsterlind, partner and co-head private real estate.
“We have identified increased revenue potential for this high-profile property which is strategically positioned in Kowloon’s ‘golden mile shopping district’, a prominent business, dining, shopping and entertainment area. We expect our clients will profit from the cash-flow visibility and the income growth potential of the property given the structural shortage of hotel rooms in Hong Kong. The business plan is to exploit the upside potential through pro-active asset management.”
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