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.
Macau / Shenzhen and Hong Kong are an hour from each other, and very distinct places. Kowloon and Central are 5min from each other and generally considered to be part of the same city. You could easily go stay in Kowloon and go to Central many times a day (ditto w/ Wan Chai, which is just a couple minutes further on the star ferry). That's not the case with Macau and Shenzhen, which are separate countries with separate immigration procedures. Also, both Macau and Shenzhen have their own airports.