Tycoon signal No 8 blows up deal on Hyatt
DAVID EVANS
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Typhoon Yutu may not have made much of an impression on Hong Kong last Wednesday, but tycoon Li Ka-shing may have been knocking a few Ming vases from their pedestals in the big man's office at the top of the Cheung Kong Centre.
Described as Mr Li's flagship enterprise in China, the Beijing Oriental Plaza - on the southern end of Wangfujing, the capital's main shopping street - boasts eight office buildings, a 600-room five-star hotel, 1,000 serviced apartments and a 100,000-square-metre shopping centre.
It was anticipated that the hotel would be opened this month (lucky eight and all that) to much trumpeting and popping of champagne corks.
It was also widely expected that Mr Li's Harbour Plaza Hotels and Resorts would manage the hotel.
The group was so confident of this outcome that Harbour Plaza Hotel signs were erected in anticipation.
Unfortunately, workmen apparently are presently making their way through the plaza removing the signs.
The spanner in the works is Hyatt International Corp, which finally signed on the dotted line on July 25 in Beijing for the right to manage the hotel, we are told.
Apparently, Mr Li's partners in the project wanted the hotel managed by a company with a more "international flavour".
We called a spokesman for Cheung Kong.
She failed to return our call. Probably too busy glueing bits of Ming vase together.
We called the office of Hyatt International Asia-Pacific, which at first denied the story because our facts were too specific.
"I said no because you were so specific with the date and we don't have much information," a staffer said.
She added: "Nothing's finalised."
In fairness, the staffer said she would pass our questions onto Marina Bullivant, director of communications, who was in a meeting.
She didn't call back either. Probably too busy sticking Grand Hyatt signs up in Oriental Plaza.
Interim fun: As we predicted in yesterday's column, bank interim reporting season kicked off with the usual line-up of men in grey suits.
Fortunately, as was desperately prayed for after yesterday's column, there was no end to the hilarity and slapstick humour that occurs when bank executives, financial journalists and analysts get together and talk bad and doubtful debt as a percentage of zzzzz.
Performing at the Bank of East Asia's announcement in the Furama Hotel was rent-a-quote banking analyst Anthony Lok of Nomura.
Perhaps in an effort to escape the marauding reporters, Mr Lok tried to make a quick exit at the end of the bank's press conference.
Unfortunately, he only made it as far as the door, at which point he performed a perfect swan dive worthy of the Chinese Olympic diving team. After Mr Lok picked himself up off the floor, he resignedly settled down to answer a few questions.
For next week's HSBC results, we predict Goldman Sachs' analyst Roy Ramos executes a perfect backflip as he falls off his chair.
Rumour mill: Best rumour of the week: Cathay Pacific Airways director of corporate development Tony Tyler is off to British Airways at the end of the year.
If true, Mr Tyler will team up with ex-Cathay chief executive Rod Eddington, who is now chief executive at the British carrier.
According to Mr Tyler, the rumour has been doing the rounds for a couple of months and he has no plans to move.
"Rod will have to muddle along without me," he said.
Take and give: Dubious offer of the week.
Mobile phone service provider 1010 - managed by CSL - is introducing a new HK$8 monthly fee to help them maintain their high standards.
However, customers were informed by letter that they would be receiving another letter informing them of an exclusive waiver of the monthly fee.
Tel: 2565 2211
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Email: laisee@scmp.com |
