Originally Posted by
stimpy
I believe (I don't have access to the contracts of course) that these markets are treated as separate for terms of such right of refusal. Remember there is also Macau right in the same place effectively. Served by the same airport. And there are many 5 star hotel brands in both Macau and Central/TST.
No argument that Macau and Hong Kong are separate markets. But that has nothing to do with Hong Kong Kowloon versus Central IMO. Hong Kong Kowloon and Central are not separate markets as you are trying to portray them.
There is one FS. There is one Pen. There is one RC. There is one Park Hyatt. There is one Conrad. There is one W. There is one RC. There is one TUH. There will be one StR. There are 2 MOs BOTH in Central, but MO owns both. The fact that Marriott has both StR and RC brands means that the chance of another of either being offered would be quite unlikely, as it wouldn't be advantageous for the owners. Any 2nd option would cannibalize from the other.
There are 2 Shangri-la and 2 Intercontinental properties. But those aren't in the same rarefied league as RC and StR.
We will have to agree to disagree...but I don't think we will see a second RC in Hong Kong for a very long time if ever now that Marriott owns both RC and StR and will have 2 top drawer luxury hotels on offer for both Kowloon and Central.