Hong Kong’s Law family bought a hotel on a whim and now boasts an entire chain, thanks to dad letting his son run the show.
Allen Law was 24 and had just finished a bachelor's degree in math and management at King’s College London. He was planning to stay abroad when his father, Law Kar Po, called with a tempting proposal: return home to Hong Kong immediately and run his newly purchased hotel. “Dad said, ‘We know nothing about hotels and we are too old to learn,’ ” recalls Allen. “I decided to take up the challenge. I flew back.”
That was 2003, the middle of the SARs crisis, and Kar Po had picked up the Park Hotel brand and its one 16-story hotel at the bargain price of $67 million. The following months were a blur for the younger Law as he embarked on a crash course in hotel management, working two shifts at the Park Hotel Hong Kong in the heart of Kowloon’s Tsim Sha Tsui district. He learned every job, beginning with the bellhop’s, and became the general manager in 18 months. “In the beginning, you feel thrown into the deep end of the ocean,” he says, his accent and manner notably Cantonese. “But you learn how to swim.”
Now 38, Allen is chief executive of the family’s privately held Park Hotel Group and passionate about the hotel business. He and the group are based in Singapore and come 2019, the portfolio will boast 16 hotels. Park Hotel owns 6 of them, holds a stake in another and manages all of them. They’re a mix of luxury, upscale and midscale, and they’ll span 11 cities in eight countries. “Our strength is unique,” he says. “We invest and operate. We understand the entire cycle, A to Z.”
This story is from the May 2018 edition of Forbes Indonesia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 2018 edition of Forbes Indonesia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
BACK ON TRACK
Collective wealth gets a 21% boost to a record $162 billion amid an economic uptick.
Championing Locals
The wave of social commerce is enabling inclusive digital economies beyond urban areas.
Boys in the Bubble
Startups are supposed to specialize, but OPENSEA’s founders thrived by building a wide-open market for creating and trading all manner of NFTs, whether art, music or gaming. Now that they’re centimillionaires and poised to become billionaires, they have other worries: competitors, fraudsters and the next crypto crash.
Enduring Relations
The implementation of IA-CEPA amid the pandemic signifies the Indonesia-Australia’s commitment to recover and counter future challenges together.
Sweet Success
Steven Erwin envisions Unifam to become a major global player in the confectionery and F&B industry.
Marathon Man
Across America, scores of municipal pension funds remain scandalously underfunded. But not the pension fund of Tampa’s police and firemen, thanks in large part to JAY BOWEN, whose no-frills approach to stock picking has protected and served them for more than 45 years.
Gold Rallies on Inflation Fears
During September the price of gold rallied to $1,868 per ounce following the release of figures on US inflation by the Bureau of Labor Statistics which indicated that, as of September, CPI inflation had rocketed to 6.2%, above the 5.8% which economists had been predicting.
Set Off to A New Start
Bank Aladin has two main ingredients for success: establish trust and offer better customer experiences.
The Daily Intake
YOUVIT plans to invest further into marketing and grow into one of the leading vitamin brands in Indonesia.
THE CROESUS OF CRYPTO
FTX COFOUNDER SAM BANKMAN-FRIED BUILT A $22.5 BILLION FORTUNE BEFORE HIS 30TH BIRTHDAY BY PROFITING OFF THE CRYPTOCURRENCY FRENZY—BUT HE’S NOT A TRUE BELIEVER. HE JUST WANTS HIS WEALTH TO SURVIVE LONG ENOUGH TO GIVE IT ALL AWAY.