Sino Group Expands Hospitality Offerings with New Serviced Apartment Brands in Hong Kong

Sino Group, a prominent Hong Kong developer, has significantly expanded its hospitality portfolio by launching and operating a new collection of serviced apartment brands across prime locations in the city. This strategic move aims to cater to the growing demand for flexible, well-appointed long-stay accommodations for both local professionals and expatriates.

Key Takeaways

• Sino Group introduces "Sino Suites," a portfolio of seven serviced apartment properties in key Hong Kong districts.
• The new brands emphasize thoughtful design, modern comforts, and convenient access to urban amenities and transport.
• Occupancy rates for existing properties are high, indicating strong market demand.

Sino Suites: A New Standard in Urban Living

Sino Group's "Sino Suites" brand encompasses seven distinct properties strategically situated in popular Hong Kong areas. These include The Camphora and The Humphreys in Tsim Sha Tsui, The Staunton and The Gage in Central, The Johnston and The Hillside in Wan Chai, and The Ventris in Happy Valley. Each location offers residents easy access to the city's efficient public transportation network, as well as proximity to vibrant shopping and dining hubs.

Andrea Leung, General Manager of Leasing, Marketing and Promotions at Sino Group, highlighted the increasing popularity of apartments with thoughtful provisions, particularly among young executives. "Tenants particularly appreciate space that blends heritage with modernity, and above all, where they can enjoy the comforts of modern home," Leung stated. She emphasized the importance of location, accessibility, and neighborhood charm, alongside flexible contract terms and fully-furnished amenities, in attracting discerning residents seeking a high quality of life.

Strong Occupancy and Market Demand

The serviced apartment market in Hong Kong is experiencing robust demand, with Sino Suites reporting impressive occupancy rates. Irene Lee, Senior Manager of Leasing at Sino Group, noted that The Staunton in Central achieved an average occupancy rate of over 95% in 2018, with most tenants working on Hong Kong Island. The group's latest projects, The Hillside and The Gage, have also seen rapid leasing success, with all 22 units at The Hillside being confirmed within two months and four out of five units at The Gage already leased.

Sino Group's Diversified Portfolio

Sino Group, owned by the Ng Family, is a major player in Hong Kong's property development sector, with core businesses in residential, office, industrial, and retail properties. The group also has significant investments in hotel development and management. Sino Group of Hotels, its hospitality arm, manages a diverse portfolio that now includes these new serviced apartments, further strengthening its presence in the regional hospitality market. The expansion into serviced apartments is seen as a strategic move that complements its existing hotel operations and enhances its overall service offerings.

Sources

• Sino Group launches Hong Kong serviced apartment brand, Serviced Apartment News.
• Sino Group of Hotels Hong Kong to Operate its First Serviced Apartments, Hospitality Net.