CNY Cheer for Hotels- Resized (3)

Written by

Azure Capital Fund Management Singapore Private Debt Fund Singapore Hedge Funds Lyte Fund Terence Wong Blue Suit

Terence Wong, CFA

CEO and Executive Director
Azure Capital

CNY Cheer for Hotels

Jan 30, 2023

My CNY house visit to Albert Teo’s place three years ago wasn’t particularly auspicious. The Amara CEO was lamenting about the new virus that was going around China. He felt that it was going to impact his hotel business. How prescient! The world went into an unprecedented tailspin.

During this year’s house visit, Albert was upbeat as China swings open its doors. With Chinese tourists accounting for over 20% of visitors to Singapore (pre-Covid), he is hoping the renovation works at his flagship hotel will end sooner.