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Hospitality veteran enjoys working with people
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Starting in the late 1970s as a trainee at Hong Kong Hilton, then one of the most prestigious five-star hotels in the city, David Yuen probably didn’t imagine it would lead to a 36-year career in hospitality.
Now as the regional director of residential assets, Eastern China, Sun Hung Kai Properties, Yuen oversees the management of IFC Residence in Lujiazui and Arcadia, a serviced apartment in Xujiahui. He is also responsible for SHKP’s future serviced apartment projects. SHKP is one of Hong Kong’s largest real estate developers.
“During the 1970s, hotels were regarded as charming places in Hong Kong and their fancy environment just seemed attractive to young people like me,” Yuen said, referring to the simple reason that prompted him to start his first job at Hilton, which later closed in the mid 1990s to make way for the development of Cheung Kong Center. “Fortunately, after spending so many years in the hospitality business, I still find my job interesting because it involves a lot of human interaction.”
A veteran hospitality professional as he prefers to call himself, Yuen had worked for a number of renowned international hotel chains such as Regent, Shangri-La, Peninsula, Kempinski and Marco Polo. He has spent the last 10 years in the serviced apartment business. In between, he has also been responsible for the development of two international branded hotels for a Hong Kong company, one in Hong Kong and the other in Guangzhou.
“To manage a property or to develop a hotel from scratch is equally interesting to me,” said Yuen, who also acts as the general manager for IFC Residence, a 296-unit serviced residence within Shanghai IFC, a 370,000-square-meter mixed-use development comprising Grade A office towers, a shopping mall and the Ritz-Carlton Pudong.
“Interaction with staff and guests, which is ultimately about handling people, is interesting and challenging because it requires a lot of skills, patience and thought. Developing new properties, which involves a lot of details, provides a great sense of achievement.”
A down-to-earth person, Yuen prefers to communicate and work closely with his team. Target-driven and business-oriented, he sets very clear expectations and standards for his team to follow and doesn’t compromise on standards.
“Customers are very smart,” he said. “But my philosophy is they will be willing to pay as long as we can provide a good product and service in a consistent manner.”
Good facilities and maintenance is one key factor to success, be it a hotel or a serviced residence.
IFC Residence, a 296-unit property offering customers choices from cozy studios to spacious three-bedroom suites and magnificent duplex Sky Mansions has maintained a 90 percent occupancy rate since June 2014. Unveiled in 2012, IFC Residence provides central air-conditioning, Wi-Fi Internet access, a fully equipped kitchen, as well as washing machine and dryer. There’s also a state-of-the-art home entertainment system, bathtub with built-in TV and other high-quality amenities.
An indoor heated swimming pool, fully equipped gym, yoga room, sauna and steam rooms, and roof terrace, plus 145 amiable and attentive staff members offering personalized service.
“Prospects for the city’s serviced apartment industry will remain generally good for the next couple of years despite an expected slow down in rental growth,” Yuen said. “But the outlook for the luxury segment is promising mainly due to a short supply of such properties in the market.”
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