Hong Kong 1980: The Savage Era

Chapter 509-511 [Sweeping Goods at the Auction] (Ask for a monthly ticket)
Before 1989, these were two different hotels. Millennium Hotels UK focused on luxury and business hotels, concentrated in core cities, while Copthorne Hotels UK was positioned as a 4-star hotel, focusing on cost-effectiveness, covering cities and suburbs. It was later acquired and integrated into Millennium & Copthorne Hotels Group, targeting the mid- to high-end market.

The hotels owned by this hotel group are all of high quality, such as the Millennium Gloucester Hotel London, which is located in Mayfair, adjacent to Hyde Park and opposite the business district.

Luo Qihong believes that this acquisition is relatively cost-effective. Launching a takeover campaign would cost no more than 2 million pounds, or more than 28 billion Hong Kong dollars, but he would be able to own a mid- to high-end hotel brand and 44 hotels.

No wonder the Cheng Yu-tung family likes to acquire hotel brands so much. Even if it is just real estate, it is quite worthwhile.

"Since you want to acquire it, then do it quickly. Many people are buying up the bottom in the UK. We may have strong competitors." Luo Qihong put down the documents and said seriously.

Having a rival means spending more money, so acting early means saving money.

"Well, then I will immediately ask someone to contact Millennium & Copthorne Hotels Group, but it will be difficult for us to obtain all the shares." Bai Jinyan raised a new question.

Since this is not a listed company, in order to control Millennium & Copthorne Hotels Group, one must hold more than 50% of the shares. Otherwise, it will be difficult to truly control the board of directors and manipulate the company's top management.

"I know, it's enough to hold more than 60% of the shares, not too much. In terms of premium, don't exceed 3%." Luo Qihong waved his hand to show that he didn't care.

"Yes, that's what I mean." Bai Jinyan said, "After acquiring this hotel group, I plan to have the company continue to attack and acquire hotel groups in the United States to achieve the company's hotel plan as soon as possible."

"Let's first acquire a hotel group company in the United States, not too much," said Luo Qihong.

There are too many hotels in the United States, and Luo Qihong does not intend to become a hotel tycoon. Moreover, the U.S. market is very complicated, and now is a critical period for investment. Other fields are even weaker, so we cannot be too extravagant.

According to Luo Qihong's idea, Zhaoan Group's investment focus should be in the three areas of telecommunications, energy and ports.

"I plan to conduct a capital raising and share offering in the near future to raise HK$60 billion and buy the bottom in the UK and Japan. What do you think?" Bai Jinyan asked with some guilt.

"We still need to pay attention to Japan, but we can be more relaxed with the UK. How about this, we bottom out with 50 billion Hong Kong dollars in the UK and 10 billion Hong Kong dollars in Japan." Luo Qihong gave Bai Jinyan some face.

Japan's real estate market has fallen by 7%, which seems suitable for bargain hunting, but in fact it will continue to fall. You can hold some core properties in commercial areas, but not too many, just to ensure that Zhaoan Group has some influence in Japan.

It took me more than half an hour to finish lunch. Fortunately, there was heating in the house so the food didn’t get cold.

Mandarin Oriental Hotel, Central.

Caltex held its first auction of the year, with many Hong Kong upper class people attending.

Large-scale global auctions entered Hong Kong in the 70s and reached their peak in the late 80s. Today, Hong Kong is a major auction market, no worse than New York and London, and even slightly better.

Hong Kong is the region with the highest concentration of wealthy people in the world and the largest luxury goods consumption market. According to statistics, there are 1100 Rolls-Royces in Hong Kong, and cars worth more than 50 yuan account for 15%.
Some people say that if a brick falls from the sky in Hong Kong, it will smash a millionaire's head.

This is by no means an exaggeration, because a medium-standard residential unit in Hong Kong is worth one or two million, and "millionaires" are just well-off families and the general public.

According to Capital magazine, in Hong Kong in 91, there were 100 Chinese billionaires with assets over 14 billion, and 10 Chinese billionaires with assets over 83 billion.

You have to know that the media can only "tailor-make" reports for the rich based on the market value of their listed companies, publicly disclosed private property and business activities. Of course, some people exaggerate the value of their assets, but more Chinese people hide their assets, so the above numbers are probably still underestimated.

Banker Mr. He Wenxiang once said in 91 that "there are at least 5000 billionaires in Hong Kong." This should be true and has a high degree of authenticity.

At the entrance of the hotel, reporters aimed their cameras at a Rolls-Royce. As soon as the people in the car got out, they started taking pictures, as if they were afraid of missing any shot.

Guan Jiahui and Li Jiaxin walked forward hand in hand, but the reporters surrounded them, and even with the bodyguards holding them back, it was difficult. "Ms. Guan, Ms. Li, didn't Luo Sheng come with you?"

".I heard that Miss Guan is planning to immigrate to Singapore. Is this true?"

"You have such a good relationship, is it because Mrs. Luo can't tolerate you and you are united to fight against Mrs. Luo?"

Li Jiaxin's face looked ugly and she really wanted to curse. What kind of weird questions were these reporters asking?
However, Guan Jiahui smiled and whispered in her ear, "Don't be angry! If you get angry, it will easily cause trouble for your husband."

Rivals and enemies in the previous life, sisters in this life, life is so wonderful.

Guan Jiahui is a few years older than Li Jiaxin, and she is smart. She knows that the reporters in front of her want to irritate them and take the opportunity to get explosive news, so that the newsprint will sell well. Otherwise, there will be no highlights.

"This is a program for our two sisters. I am planning to immigrate to Singapore, and Jiaxin is also planning to immigrate to Australia." Guan Jiahui avoided answering questions about Mrs. Luo's confrontation. She knew very well that no matter how she answered, reporters would write about it, and if she didn't speak, there would be news about it.

After entering the hotel lobby, Li Jiaxin said angrily, "These paparazzi are so hateful. I really want to scold them."

Guan Jiahui smiled and said, "If you scold them, you will fall into the trap. If you scold them, there will be news to write about. Ignoring them is the best way to do it. You have to be careful and don't cause trouble for your husband."

"Hmph! Let them go." Li Jiaxin curled her lips, still in a bad mood.

In fact, Guan Jiahui was also afraid that Li Jiaxin would scold people. Her manner made her a little scared. She was even more fierce than the aunties on the street.

After entering the venue, Kwan Ka Wai and Lee Ka Yan greeted and chatted with those acquaintances.

In the impression of Hong Kong's upper class, Luo Qihong's women are very rich. Not only do they have their own private real estate companies, they also own top properties in Wan Chai, Tsim Sha Tsui, Causeway Bay and Mid-Levels, with a net worth of more than HK$20 billion. They also invest in securities and stocks, making them among the richest women in Hong Kong.

"Is it because Mr. Luo is embarrassed to show up that he sent a woman over to help with the auction?" someone asked his companion with a smile.

"It's possible! Mr. Luo has rarely appeared in public in the past two years, and he rarely attends even government land auctions." said his companion.

The female bodyguard handed Li Jiaxin a cup of coffee and whispered in her ear, "The company called to ask, there is a commercial building for sale in Bangkok, Thailand, the price is..."

"Tell them to buy it. Brother Hong said that all properties in Bangkok, Thailand will increase in price. If you have money, you must be decisive." Li Jiaxin said proudly.

"Ah Xin, we are sisters, so should we each share half of the good stuff?" Guan Jiahui smiled slyly.

Both of them are women who love money very much, otherwise they would not have competed for favor in front of Liu Luanxiong in their previous lives, quarreled fiercely, and became the laughing stock of Hong Kong people.

Li Jiaxin turned her head, thought for nearly a minute, and replied, "I can give you one third at most."

Guan Jiahui was slightly surprised. One third was indeed not a small amount. She thought Li Jiaxin simply ignored her. "Okay, it's a little less, but it's better than nothing."

At the auction, the two women took turns bidding, and the first six pieces of calligraphy and paintings were all bought by the two of them, shocking many people at the scene. They couldn't help but think that "Luo Qihong's women are going to buy up the entire auction."

In fact, this was the investment method they had just discussed with Luo Qihong. A room for displaying antique paintings, calligraphy and jade articles had already been built in the villa, waiting for today's auction items to be moved in.

Fortunately, Guan Jiahui and Li Jiaxin were more restrained and not too overbearing afterwards, but in the end the two women still swept more than a quarter of the lots and became the most eye-catching presence at the auction.

(End of this chapter)