Benefitting High-speed Rail Tsim Sha Tsui Retail Hotels

Tourism industry improved. Rui Sheng Group Vice Chairman Fu Jiajun believes that after the opening of the high-speed rail, all retail and hotels in Tsim Sha Tsui will benefit, and it is expected that the rent adjustment of the shop will come to an end and the rent is expected to stabilize.

Ruisheng Group entered the hotel market in recent years. In 2012, the Group retired about RMB 1.1 billion to purchase the whole building of Tongxingxing Commercial Center, No. 20-22 Granville Road, Tsim Sha Tsui, and later converted it into an attitude on granville. The hotel offers 81 rooms and opened in 2016. Two years later, Soravit on Granville recently opened in the same area.

Granville Road Hotel recently opened

The hospitality industry is closely related to the tourism industry. Fu Jiajun believes that the number of Hong Kong retail sales has obviously improved this year and the number of tourists has also increased. “As our first hotel, the room rate rose from RMB 800 per night to over RMB 1,000 and the long-term occupancy rate was 98. More than %, reflecting the increase in the number of tourists compared to the past.”

In addition, he is particularly optimistic about the opening of the high-speed rail, driving the surrounding areas, “after the opening of the high-speed rail, there are 100,000 tourists a day, Jordan, Tsim Sha Tsui area is certainly more people, the hotel will certainly benefit.”

In his opinion, one of the advantages of its hotels is that it is located in the heart of Tsim Sha Tsui, which is both convenient and has local specialty shops. “A lot of tourists come to Hong Kong and do not spend all their time shopping. If they want to buy brand names, they also have large shopping malls and famous stores in China. A group of guests are welcomed in Hong Kong. They like to look for Hong Kong’s specialties such as dim sum and egg noodles. There are also a large number of specialty shops along the Granville Road in Tsim Sha Tsui. With convenient locations, it is possible to take a boat to Central, Wan Chai and Hong Kong and Macau Ferry Terminals. ”

Rates starting from 1200 The first day’s occupancy rate is 100%

The Ruisheng Jiawei Hotel was renovated and remodeled for up to two years. Fu Jiajun pointed out that the renovation fee involved about 80 million yuan, providing 76 rooms, with an area of ​​150 square feet and a room rate of about 1,200 to 1,300 yuan. The hotel’s greatest feature is Thailand’s theme. “We hope to add the hotel to a cultural atmosphere. The Ruisheng Jiawei Hotel has a theme of Hong Kong, and because my mother is an overseas Chinese in Thailand, I have come up with a hotel with a Thai theme.”

He said that in order to make the hotel unique, he specially invited painters to paint 80 paintings for the hotel and put it in the lobby, corridors and rooms, and bought furnishings from Thailand. The biggest theme of the hotel is comfort. “Travelers only have a few days. They When visiting around Hong Kong, the night is quite tired and you will enjoy a peaceful space when you return to the hotel. It is understood that the hotel was officially opened last week, and the first-day rental rate was 100%, satisfactory.

In the past, the Group was mainly based on investment shops and currently held several core retail shops in Tsim Sha Tsui. From 2014 to 2017, the retail outlets were affected by the weakening of retail sales and the shop rents fell sharply. He believes that the rent distribution has stabilized and “no recent global crisis has occurred in recent years. This is only a normal adjustment, and the tourism industry has improved and the rental adjustment period is nearing completion.” In addition to the core area, he noticed that the people’s livelihood area also has merits. “I came to the housing estate shopping mall in Tseung Kwan O earlier, and the current area The combination of mall tenants is also more extensive than before, and many new brands have settled in the people’s livelihood area.” However, he said that the group is still focusing on the core areas of investment. In addition, he is more optimistic about the commercial market. “The supply of commercial buildings in the core area is limited and there is a large demand. If the demand for commercial buildings is not great, there will be no co-working space, and it is expected that the rental prices of the buildings will be better.”

Purchase of Dongjiu Site Construction of Yintai Business Mall

On the investment side, he recently purchased a site from the East Kowloon Commercial Building in cooperation with another consortium and will redevelop it into a Ginza-style commercial building. It is expected that it will be completed in three to four years. “We are optimistic about the prospects of East Kowloon and we are quite mature now. There are many residential buildings in Kai Tak. Inauguration, consumption and working population all increased.”