Choo Chong Ngen - Revision history

Kimberly Wong at 03:18, 10 November 2022

2022-11-10T03:18:09Z

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	==References / Citations==		==References / Citations==
	[[Category:~~Singapore~~ Entrepreneurs & Businessmen]]		[[Category: Entrepreneurs & Businessmen]]
	<references />		<references />

Kimberly Wong: Add Sub-category

2022-11-03T23:20:05Z

Add Sub-category

← Older revision		Revision as of 07:20, 4 November 2022
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	==References / Citations==		==References / Citations==
	[[Category:~~People of Interest~~]]		[[Category:Singapore Entrepreneurs & Businessmen]]
	<references />		<references />

Dayana Rizal: /* Philanthropy */

2020-01-13T02:23:48Z

Philanthropy

← Older revision		Revision as of 10:23, 13 January 2020
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	===Early business ventures===		===Early business ventures===
	At 21 years old, he forayed into real estate investment and was able to acquire a shophouse unit with the help of a bank loan. In the span of 9 years, he had invested in at least 30 shop units and earned a living by renting them out to tenants.<ref>Cua, Genevieve. “[https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go When red-light means go]”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019.</ref> From shophouses, he moved on to apartments. In 1992, Choo Chong Ngen first dabbled in property development by building 20 apartment units in Geylang worth S$1.5 million.<ref>Cua, Genevieve. “[https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go When red-light means go]”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019.</ref> Thereafter, he built about ~~100~~ apartment units ~~in total~~ on four plots of land in Geylang.		At 21 years old, he forayed into real estate investment and was able to acquire a shophouse unit with the help of a bank loan. In the span of 9 years, he had invested in at least thirty shop units and earned a living by renting them out to tenants.<ref>Cua, Genevieve. “[https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go When red-light means go]”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019.</ref> From shophouses, he moved on to apartments. In 1992, Choo Chong Ngen first dabbled in property development by building twenty apartment units in Geylang worth S$1.5 million.<ref>Cua, Genevieve. “[https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go When red-light means go]”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019.</ref> Thereafter, he built about a hundred apartment units on four plots of land in Geylang.


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	===Worldwide Hotels Group (Oct 2018 - Present Day)===		===Worldwide Hotels Group (Oct 2018 - Present Day)===
	The Worldwide Hotels Group was established in 2018 as a consolidation of Choo Chong Ngen's 6 Singapore hotel brands and the overseas hotels owned by the company.<ref>Neoh, Naomi. “[http://www.travelweekly-asia.com/Travel-News/Hotel-News/Worldwide-Hotels-takes-off-on-global-expansio Worldwide Hotels takes off on global expansion]”. ''Travel Weekly Asia''. October 24, 2018. Accessed on 12 February 2019.</ref> The 6 local hotel brands include Hotel 81, V Hotel, Value Hotel, Hotel Mi, Hotel Boss and Benue Hotel which each have different price points that target a variety of customers.<ref>Neoh, Naomi. “[http://www.travelweekly-asia.com/Travel-News/Hotel-News/Worldwide-Hotels-takes-off-on-global-expansio Worldwide Hotels takes off on global expansion]”. ''Travel Weekly Asia''. October 24, 2018. Accessed on 12 February 2019.</ref>		The Worldwide Hotels Group was established in 2018 as a consolidation of Choo Chong Ngen's six Singapore hotel brands and the overseas hotels owned by the company.<ref>Neoh, Naomi. “[http://www.travelweekly-asia.com/Travel-News/Hotel-News/Worldwide-Hotels-takes-off-on-global-expansio Worldwide Hotels takes off on global expansion]”. ''Travel Weekly Asia''. October 24, 2018. Accessed on 12 February 2019.</ref> The six local hotel brands include Hotel 81, V Hotel, Value Hotel, Hotel Mi, Hotel Boss and Benue Hotel which each have different price points that target a variety of customers.<ref>Neoh, Naomi. “[http://www.travelweekly-asia.com/Travel-News/Hotel-News/Worldwide-Hotels-takes-off-on-global-expansio Worldwide Hotels takes off on global expansion]”. ''Travel Weekly Asia''. October 24, 2018. Accessed on 12 February 2019.</ref>

	The Worldwide Hotels Group owns several hotels overseas that are managed by companies such as Travelodge and Holiday Inn.<ref>“[https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7 Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District]”. ''Forbes''. August 2017. Accessed on 12 February 2019.</ref>		The Worldwide Hotels Group owns several hotels overseas that are managed by companies such as Travelodge and Holiday Inn.<ref>“[https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7 Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District]”. ''Forbes''. August 2017. Accessed on 12 February 2019.</ref>
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	===Hotels in Singapore===		===Hotels in Singapore===
	Choo Chong Ngen opened the first Hotel 81 in Singapore in 1995.<ref>“[https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7 Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District]”. ''Forbes''. August 2017. Accessed on 12 February 2019.</ref> He had been inspired by his stay at a business hotel in Japan where the small rooms had been tagged with very affordable prices. He had wanted to bring this concept over to Singapore.<ref>“[https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7 Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District]”. ''Forbes''. August 2017. Accessed on 12 February 2019.</ref> His first hotel had been named after his house number at the time. When his hotels were first starting out, Choo Chong Ngen visited them daily to improve their efficiency and productivity.<ref>Cua, Genevieve. “[https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go When red-light means go]”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019.</ref> In order to streamline in-house processes, he even customised the luggage and laundry trolleys. As of 2019, Hotel 81 is a chain of 28 hotels island-wide.		Choo Chong Ngen opened the first Hotel 81 in Singapore in 1995.<ref>“[https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7 Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District]”. ''Forbes''. August 2017. Accessed on 12 February 2019.</ref> He had been inspired by his stay at a business hotel in Japan where the small rooms had been tagged with very affordable prices. He had wanted to bring this concept over to Singapore.<ref>“[https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7 Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District]”. ''Forbes''. August 2017. Accessed on 12 February 2019.</ref> His first hotel had been named after his house number at the time. When his hotels were first starting out, Choo Chong Ngen visited them daily to improve their efficiency and productivity.<ref>Cua, Genevieve. “[https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go When red-light means go]”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019.</ref> In order to streamline in-house processes, he even customised the luggage and laundry trolleys. As of 2019, Hotel 81 is a chain of twenty-eight hotels island-wide.


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	==Philanthropy==		==Philanthropy==
	Choo Chong Ngen has been involved in philanthropy efforts in Singapore, particularly those related to education. In 2017, he set up the Hotel 81-Choo Chong Ngen Foundation in partnership with Credit Suisse's SymAsia Foundation. Choo Chong Ngen kick-started the foundation with a donation to 5 local polytechnics amounting to S$2.5 million.<ref>"[https://www.credit-suisse.com/corporate/en/articles/media-releases/new-hotel-81-choo-chong-ngen-doundation-set-up-201711.html New Hotel 81-Choo Chong Ngen Foundation set up, donates S$2.5 million to Singapore polytechnics]". ''Credit Suisse Group AG''. November, November 2017. Accessed on 7 June 2019.</ref>		Choo Chong Ngen has been involved in philanthropy efforts in Singapore, particularly those related to education. In 2017, he set up the Hotel 81-Choo Chong Ngen Foundation in partnership with Credit Suisse's SymAsia Foundation. Choo Chong Ngen kick-started the foundation with a donation to five local polytechnics amounting to S$2.5 million.<ref>"[https://www.credit-suisse.com/corporate/en/articles/media-releases/new-hotel-81-choo-chong-ngen-doundation-set-up-201711.html New Hotel 81-Choo Chong Ngen Foundation set up, donates S$2.5 million to Singapore polytechnics]". ''Credit Suisse Group AG''. November, November 2017. Accessed on 7 June 2019.</ref>
	{\| class="wikitable"		{\| class="wikitable"
	!Year		!Year

Dayana Rizal at 02:22, 13 January 2020

2020-01-13T02:22:02Z

Show changes

Dayana Rizal at 03:05, 20 November 2019

2019-11-20T03:05:41Z

← Older revision		Revision as of 11:05, 20 November 2019
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	\| birth_date = April 1952		\| birth_date = April 1952
	\| children = Carolyn Choo, Sean Choo, 2 other children		\| children = Carolyn Choo, Sean Choo, 2 other children
	\|known for=Founder of Hotel 81~~, V Hotel, Value Hotel, Hotel Mi, Hotel Boss, Benue Hotel~~\|organisation=Executive Chairman at Worldwide Hotels Group\|net worth=S$2.95 billion (as of 2019)}}		\|known for=Founder of Hotel 81\|organisation=Executive Chairman at Worldwide Hotels Group\|net worth=S$2.95 billion (as of 2019)}}

	Choo Chong Ngen is a Singaporean billionaire who is the founder and Executive Chairman of Hotel 81, a chain of budget-friendly hotels in Singapore which had started out in Geylang’s red-light district.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref> Choo Chong Ngen has achieved success in the hotel industry locally and overseas under his group, Worldwide Hotels. In 2018, he was featured on Forbes’ 'List of Billionaires' and was ranked tenth on 'Singapore’s 50 Richest'.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref> As of 6 June 2019, his net worth is at S$2.5 billion.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref>		Choo Chong Ngen is a Singaporean billionaire who is the founder and Executive Chairman of Hotel 81, a chain of budget-friendly hotels in Singapore which had started out in Geylang’s red-light district.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref> Choo Chong Ngen has achieved success in the hotel industry locally and overseas under his group, Worldwide Hotels. In 2018, he was featured on Forbes’ 'List of Billionaires' and was ranked tenth on 'Singapore’s 50 Richest'.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref> As of 6 June 2019, his net worth is at S$2.5 billion.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref>

	==Background==		==Background==

			=== Childhood ===
	Choo Chong Ngen started selling textiles when he was 15 years old while working for a neighbour who paid him S$30 every month.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref> He had dropped out of school at 14 years old to work.<ref>Zafirah Salim. "How Hotel 81 Founder Became a Billionaire With Budget Hotels In Singapore's Red Light District". ''Vulcan Post''. Retrieved from: https://vulcanpost.com/641112/hotel-81-founder-choo-chong-ngen/</ref> However, working for his neighbour proved unsustainable and Choo started selling his own textiles instead. At the time, he had started off his textile business with S$50 from his mother and S$6 from a friend.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref>		Choo Chong Ngen started selling textiles when he was 15 years old while working for a neighbour who paid him S$30 every month.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref> He had dropped out of school at 14 years old to work.<ref>Zafirah Salim. "How Hotel 81 Founder Became a Billionaire With Budget Hotels In Singapore's Red Light District". ''Vulcan Post''. Retrieved from: https://vulcanpost.com/641112/hotel-81-founder-choo-chong-ngen/</ref> However, working for his neighbour proved unsustainable and Choo started selling his own textiles instead. At the time, he had started off his textile business with S$50 from his mother and S$6 from a friend.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref>

			=== Early business ventures ===
	At 21 years old, he forayed into real estate investment and was able to acquire a shophouse unit with the help of a bank loan. In the span of 9 years, he had invested in at least 30 shop units and earned a living by renting them out to tenants.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref> From shophouses, he moved on to apartments. In 1992, Choo Chong Ngen first dabbled in property development by building 20 apartment units in Geylang worth S$1.5 million.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref> Thereafter, he built about 100 apartment units in total on four plots of land in Geylang.		At 21 years old, he forayed into real estate investment and was able to acquire a shophouse unit with the help of a bank loan. In the span of 9 years, he had invested in at least 30 shop units and earned a living by renting them out to tenants.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref> From shophouses, he moved on to apartments. In 1992, Choo Chong Ngen first dabbled in property development by building 20 apartment units in Geylang worth S$1.5 million.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref> Thereafter, he built about 100 apartment units in total on four plots of land in Geylang.


	Choo Chong Ngen experienced business setbacks during the 2003 SARS outbreak and the 2008 financial crisis.<ref>“Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District”. ''Forbes''. August 2017. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7</ref> In 2003, the outbreak left a large impact on his business which had dropped by 80 per cent.<ref>“Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District”. ''Forbes''. August 2017. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7</ref> In 2008, he was unable to secure a bank loan for a site that he had bid for. As such, he had to pay for the piece of land with a combination of cash, some properties and overdraft money. Nonetheless, this investment grew to become V Hotel.<ref>“Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District”. ''Forbes''. August 2017. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7</ref>		Choo Chong Ngen experienced business setbacks during the 2003 SARS outbreak and the 2008 financial crisis.<ref>“Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District”. ''Forbes''. August 2017. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7</ref> In 2003, the outbreak left a large impact on his business which had dropped by 80 per cent.<ref>“Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District”. ''Forbes''. August 2017. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7</ref> In 2008, he was unable to secure a bank loan for a site that he had bid for. As such, he had to pay for the piece of land with a combination of cash, some properties and overdraft money. Nonetheless, this investment grew to become V Hotel.<ref>“Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District”. ''Forbes''. August 2017. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7</ref>

			=== Personality ===
	In a 2018 interview with ''The Business Times'', Choo Chong Ngen attributed his business success to his opportunistic mindset.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref> Instead of being affected by Geylang's reputation as a red-light district, he saw the low prices in the area as a business opportunity.		In a 2018 interview with ''The Business Times'', Choo Chong Ngen attributed his business success to his opportunistic mindset.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref> Instead of being affected by Geylang's reputation as a red-light district, he saw the low prices in the area as a business opportunity.

	==Career highlights==		==Career highlights==

Dayana Rizal at 03:02, 20 November 2019

2019-11-20T03:02:37Z

← Older revision		Revision as of 11:02, 20 November 2019
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	{{Infobox person		{{Infobox person
	\| image = Choo Chong Ngen.jpg		\| image = Choo Chong Ngen.jpg
	~~\| birth_name = Choo Chong Ngen~~
	\| birth_date = April 1952		\| birth_date = April 1952
	\| children = Carolyn Choo, Sean Choo, 2 other children		\| children = Carolyn Choo, Sean Choo, 2 other children

Dayana Rizal at 02:10, 17 October 2019

2019-10-17T02:10:16Z

← Older revision		Revision as of 10:10, 17 October 2019
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	\| birth_date = April 1952		\| birth_date = April 1952
	\| children = Carolyn Choo, Sean Choo, 2 other children		\| children = Carolyn Choo, Sean Choo, 2 other children
	\|known for=Founder of Hotel 81, V Hotel, Value Hotel, Hotel Mi, Hotel Boss, Benue Hotel\|organisation=Executive Chairman at Worldwide Hotels Group}}		\|known for=Founder of Hotel 81, V Hotel, Value Hotel, Hotel Mi, Hotel Boss, Benue Hotel\|organisation=Executive Chairman at Worldwide Hotels Group\|net worth=S$2.95 billion (as of 2019)}}

	Choo Chong Ngen is the founder and ~~executive chairman~~ of Hotel 81, a chain of budget-friendly hotels in Singapore which had started out in Geylang’s red-light district.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref> Choo Chong Ngen has achieved success in the hotel industry locally and overseas under his group, Worldwide Hotels. In 2018, he was featured on Forbes’ 'List of Billionaires' and was ranked tenth on 'Singapore’s 50 Richest'.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref> As of 6 June 2019, his net worth is at S$2.5 billion.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref>		Choo Chong Ngen is a Singaporean billionaire who is the founder and Executive Chairman of Hotel 81, a chain of budget-friendly hotels in Singapore which had started out in Geylang’s red-light district.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref> Choo Chong Ngen has achieved success in the hotel industry locally and overseas under his group, Worldwide Hotels. In 2018, he was featured on Forbes’ 'List of Billionaires' and was ranked tenth on 'Singapore’s 50 Richest'.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref> As of 6 June 2019, his net worth is at S$2.5 billion.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref>

	==Background==		==Background==

Dayana Rizal: /* Hotels in Singapore */

2019-06-07T06:19:44Z

Hotels in Singapore

← Older revision		Revision as of 14:19, 7 June 2019
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	===Hotels in Singapore===		===Hotels in Singapore===
	Choo Chong Ngen opened the first Hotel 81 in Singapore in 1995.<ref>“Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District”. ''Forbes''. August 2017. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7</ref> He had been inspired by his stay at a ~~local~~ business hotel in Japan where the small rooms had been tagged with very affordable prices. He had wanted to bring this concept over to Singapore.<ref>“Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District”. ''Forbes''. August 2017. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7</ref> His first hotel had been named after his house number at the time. When his hotels were first starting out, Choo Chong Ngen visited them daily to improve their efficiency and productivity.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref> In order to streamline in-house processes, he even customised the luggage and laundry trolleys. As of 2019, Hotel 81 is a chain of 28 hotels island-wide.		Choo Chong Ngen opened the first Hotel 81 in Singapore in 1995.<ref>“Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District”. ''Forbes''. August 2017. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7</ref> He had been inspired by his stay at a business hotel in Japan where the small rooms had been tagged with very affordable prices. He had wanted to bring this concept over to Singapore.<ref>“Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District”. ''Forbes''. August 2017. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7</ref> His first hotel had been named after his house number at the time. When his hotels were first starting out, Choo Chong Ngen visited them daily to improve their efficiency and productivity.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref> In order to streamline in-house processes, he even customised the luggage and laundry trolleys. As of 2019, Hotel 81 is a chain of 28 hotels island-wide.

Dayana Rizal at 06:14, 7 June 2019

2019-06-07T06:14:37Z

← Older revision		Revision as of 14:14, 7 June 2019
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	\| birth_date = April 1952		\| birth_date = April 1952
	\| children = Carolyn Choo, Sean Choo, 2 other children		\| children = Carolyn Choo, Sean Choo, 2 other children
	}}		\|known for=Founder of Hotel 81, V Hotel, Value Hotel, Hotel Mi, Hotel Boss, Benue Hotel\|organisation=Executive Chairman at Worldwide Hotels Group}}

	Choo Chong Ngen is the founder and executive chairman of Hotel 81, a chain of budget-friendly hotels in Singapore which had started out in Geylang’s red-light district.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref> Choo Chong Ngen has achieved success in the hotel industry locally and overseas under his group, Worldwide Hotels. In 2018, he was featured on Forbes’ 'List of Billionaires' and was ranked tenth on 'Singapore’s 50 Richest'.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref> As of 6 June 2019, his net worth is at S$2.5 billion.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref>		Choo Chong Ngen is the founder and executive chairman of Hotel 81, a chain of budget-friendly hotels in Singapore which had started out in Geylang’s red-light district.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref> Choo Chong Ngen has achieved success in the hotel industry locally and overseas under his group, Worldwide Hotels. In 2018, he was featured on Forbes’ 'List of Billionaires' and was ranked tenth on 'Singapore’s 50 Richest'.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref> As of 6 June 2019, his net worth is at S$2.5 billion.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref>

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	Choo Chong Ngen is the founder and executive chairman of Hotel 81, a chain of budget-friendly hotels in Singapore which had started out in Geylang’s red-light district.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref> Choo Chong Ngen has achieved success in the hotel industry locally and overseas under his group, Worldwide Hotels. In 2018, he was featured on Forbes’ 'List of Billionaires' and was ranked tenth on 'Singapore’s 50 Richest'.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref> As of 6 June 2019, his net worth is at S$2.5 billion.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref>		Choo Chong Ngen is the founder and executive chairman of Hotel 81, a chain of budget-friendly hotels in Singapore which had started out in Geylang’s red-light district.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref> Choo Chong Ngen has achieved success in the hotel industry locally and overseas under his group, Worldwide Hotels. In 2018, he was featured on Forbes’ 'List of Billionaires' and was ranked tenth on 'Singapore’s 50 Richest'.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref> As of 6 June 2019, his net worth is at S$2.5 billion.<ref>“#10 Choo Chong Ngen”. ''Forbes''. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/profile/choo-chong-ngen/#273f1978152b</ref>

	== Background ==		==Background==
	Choo Chong Ngen started selling textiles when he was 15 years old while working for a neighbour who paid him S$30 every month.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref> He had dropped out of school at 14 years old to work.<ref>Zafirah Salim. "How Hotel 81 Founder Became a Billionaire With Budget Hotels In Singapore's Red Light District". ''Vulcan Post''. Retrieved from: https://vulcanpost.com/641112/hotel-81-founder-choo-chong-ngen/</ref> However, working for his neighbour proved unsustainable and Choo started selling his own textiles instead. At the time, he had started off his textile business with S$50 from his mother and S$6 from a friend.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref>		Choo Chong Ngen started selling textiles when he was 15 years old while working for a neighbour who paid him S$30 every month.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref> He had dropped out of school at 14 years old to work.<ref>Zafirah Salim. "How Hotel 81 Founder Became a Billionaire With Budget Hotels In Singapore's Red Light District". ''Vulcan Post''. Retrieved from: https://vulcanpost.com/641112/hotel-81-founder-choo-chong-ngen/</ref> However, working for his neighbour proved unsustainable and Choo started selling his own textiles instead. At the time, he had started off his textile business with S$50 from his mother and S$6 from a friend.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref>

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	In a 2018 interview with ''The Business Times'', Choo Chong Ngen attributed his business success to his opportunistic mindset.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref> Geylang ~~was deemed~~ as a red-light district ~~by many but~~ he ~~was not affected by the area’s reputation and~~ saw the low prices in the area as a business opportunity.		In a 2018 interview with ''The Business Times'', Choo Chong Ngen attributed his business success to his opportunistic mindset.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref> Instead of being affected by Geylang's reputation as a red-light district, he saw the low prices in the area as a business opportunity.

	== Career highlights ==		==Career highlights==
	[[File:Choo Chong Ngen and daughter.jpg\|thumb\|''Choo Chong Ngen (right) and his daughter, Carolyn Choo (left) who is also the Managing Director of Worldwide Hotels Group. Photo from Business Times Singapore.'']]		[[File:Choo Chong Ngen and daughter.jpg\|thumb\|''Choo Chong Ngen (right) and his daughter, Carolyn Choo (left) who is also the Managing Director of Worldwide Hotels Group. Photo from Business Times Singapore.'']]

	=== Worldwide Hotels Group (Oct 2018 - Present Day) ===		===Worldwide Hotels Group (Oct 2018 - Present Day)===
	~~Even though Hotel 81 was founded in 1995, the~~ Worldwide Hotels Group was established in 2018 as a consolidation of Choo Chong Ngen's 6 Singapore hotel brands and the overseas hotels owned by the company.<ref>Neoh, Naomi. “Worldwide Hotels takes off on global expansion”. ''Travel Weekly Asia''. October 24, 2018. Accessed on 12 February 2019. Retrieved from: http://www.travelweekly-asia.com/Travel-News/Hotel-News/Worldwide-Hotels-takes-off-on-global-expansion</ref> The 6 local hotel brands include Hotel 81, V Hotel, Value Hotel, Hotel Mi, Hotel Boss and Benue Hotel which each have different price points that target a variety of customers.<ref>Neoh, Naomi. “Worldwide Hotels takes off on global expansion”. ''Travel Weekly Asia''. October 24, 2018. Accessed on 12 February 2019. Retrieved from: http://www.travelweekly-asia.com/Travel-News/Hotel-News/Worldwide-Hotels-takes-off-on-global-expansion</ref>		The Worldwide Hotels Group was established in 2018 as a consolidation of Choo Chong Ngen's 6 Singapore hotel brands and the overseas hotels owned by the company.<ref>Neoh, Naomi. “Worldwide Hotels takes off on global expansion”. ''Travel Weekly Asia''. October 24, 2018. Accessed on 12 February 2019. Retrieved from: http://www.travelweekly-asia.com/Travel-News/Hotel-News/Worldwide-Hotels-takes-off-on-global-expansion</ref> The 6 local hotel brands include Hotel 81, V Hotel, Value Hotel, Hotel Mi, Hotel Boss and Benue Hotel which each have different price points that target a variety of customers.<ref>Neoh, Naomi. “Worldwide Hotels takes off on global expansion”. ''Travel Weekly Asia''. October 24, 2018. Accessed on 12 February 2019. Retrieved from: http://www.travelweekly-asia.com/Travel-News/Hotel-News/Worldwide-Hotels-takes-off-on-global-expansion</ref>

	The Worldwide Hotels Group owns several hotels overseas that are managed by companies such as Travelodge and Holiday Inn.<ref>“Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District”. ''Forbes''. August 2017. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7</ref>		The Worldwide Hotels Group owns several hotels overseas that are managed by companies such as Travelodge and Holiday Inn.<ref>“Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District”. ''Forbes''. August 2017. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7</ref>
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	[[File:V Hotel Lavender Singapore.jpg\|thumb\|''The facade of V Hotel Lavender in Singapore. Photo from Booking.com.'']]		[[File:V Hotel Lavender Singapore.jpg\|thumb\|''The facade of V Hotel Lavender in Singapore. Photo from Booking.com.'']]

	=== Hotels in Singapore ===		===Hotels in Singapore===
	Choo Chong Ngen opened the first Hotel 81 in Singapore in 1995.<ref>“Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District”. ''Forbes''. August 2017. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7</ref> He had been inspired by his stay at a local business hotel in Japan where the small rooms had been tagged with very affordable prices. He had wanted to bring this concept over to Singapore.<ref>“Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District”. ''Forbes''. August 2017. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7</ref> His first hotel had been named after his house number at the time. When his hotels first ~~started~~, ~~he had~~ visited them daily to improve their efficiency and productivity.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref> In order to streamline in-house processes, he even customised the luggage and laundry trolleys. As of 2019, Hotel 81 is a chain of 28 hotels island-wide.		Choo Chong Ngen opened the first Hotel 81 in Singapore in 1995.<ref>“Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District”. ''Forbes''. August 2017. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7</ref> He had been inspired by his stay at a local business hotel in Japan where the small rooms had been tagged with very affordable prices. He had wanted to bring this concept over to Singapore.<ref>“Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District”. ''Forbes''. August 2017. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7</ref> His first hotel had been named after his house number at the time. When his hotels were first starting out, Choo Chong Ngen visited them daily to improve their efficiency and productivity.<ref>Cua, Genevieve. “When red-light means go”. ''The Business Times''. April 3, 2018. Accessed on 12 February 2019. Retrieved from: https://www.businesstimes.com.sg/magazines/wealth-april-2018/when-red-light-means-go</ref> In order to streamline in-house processes, he even customised the luggage and laundry trolleys. As of 2019, Hotel 81 is a chain of 28 hotels island-wide.


	Following the success of Hotel 81, Choo Chong Ngen went ahead to open several other hotels in Singapore with different price points to attract a varied pool of customers. Venue Hotel was established to give customers a taste of Singapore culture while Value Hotel aims to provide affordable yet comfortable rooms to travellers.<ref>“OWNED&MANAGED”. ''Worldwide Hotels''. Accessed on 13 February 2019. Retrieved from: https://www.wwhotels.com/worldwide-hotels-portfolio.shtml</ref> Hotel Boss, V Hotel and Hotel Mi target both business and leisure travellers.<ref>“OWNED&MANAGED”. ''Worldwide Hotels''. Accessed on 13 February 2019. Retrieved from: https://www.wwhotels.com/worldwide-hotels-portfolio.shtml</ref>		Following the success of Hotel 81, Choo Chong Ngen went ahead to open several other hotels in Singapore with different price points to attract a varied pool of customers. Venue Hotel was established to give customers a taste of Singapore culture while Value Hotel aims to provide affordable yet comfortable rooms to travellers.<ref>“OWNED&MANAGED”. ''Worldwide Hotels''. Accessed on 13 February 2019. Retrieved from: https://www.wwhotels.com/worldwide-hotels-portfolio.shtml</ref> Hotel Boss, V Hotel and Hotel Mi target both business and leisure travellers.<ref>“OWNED&MANAGED”. ''Worldwide Hotels''. Accessed on 13 February 2019. Retrieved from: https://www.wwhotels.com/worldwide-hotels-portfolio.shtml</ref>

	=== Overseas hotels ===		===Overseas hotels===
	Choo Chong Ngen's first expansion abroad was in Thailand where he signed a managing contract with Travelodge.<ref>“Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District”. ''Forbes''. August 2017. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7</ref> He then moved into Malaysia, South Korea and Australia. As of 2019, Choo Chong Ngen owns seven hotels abroad.		Choo Chong Ngen's first expansion abroad was in Thailand where he signed a managing contract with Travelodge.<ref>“Meet The Hotel Founder Who Made His Fortune In Singapore’s Red-Light District”. ''Forbes''. August 2017. Accessed on 12 February 2019. Retrieved from: https://www.forbes.com/sites/forbesasia/2017/07/26/billionaire-hotel-founder-singapore-red-light-district-hotel-81/#58e303df5db7</ref> He then moved into Malaysia, South Korea and Australia. As of 2019, Choo Chong Ngen owns seven hotels abroad.
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	== Philanthropy ==		==Philanthropy==
	Choo Chong Ngen has been involved in philanthropy efforts in Singapore, particularly those related to education. In 2017, he set up the Hotel 81-Choo Chong Ngen Foundation in partnership with Credit Suisse's SymAsia Foundation. Choo Chong Ngen kick-started the foundation with a donation to 5 local polytechnics amounting to S$2.5 million.<ref>"New Hotel 81-Choo Chong Ngen Foundation set up, donates S$2.5 million to Singapore polytechnics". ''Credit Suisse Group AG''. 10 November 2017. Accessed on 7 June 2019. Retrieved from: https://www.credit-suisse.com/corporate/en/articles/media-releases/new-hotel-81-choo-chong-ngen-doundation-set-up-201711.html</ref>		Choo Chong Ngen has been involved in philanthropy efforts in Singapore, particularly those related to education. In 2017, he set up the Hotel 81-Choo Chong Ngen Foundation in partnership with Credit Suisse's SymAsia Foundation. Choo Chong Ngen kick-started the foundation with a donation to 5 local polytechnics amounting to S$2.5 million.<ref>"New Hotel 81-Choo Chong Ngen Foundation set up, donates S$2.5 million to Singapore polytechnics". ''Credit Suisse Group AG''. 10 November 2017. Accessed on 7 June 2019. Retrieved from: https://www.credit-suisse.com/corporate/en/articles/media-releases/new-hotel-81-choo-chong-ngen-doundation-set-up-201711.html</ref>
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	== References / Citations ==		==References / Citations==
	[[Category:People of Interest]]		[[Category:People of Interest]]
			<references />