Po Zai is acting wild again. Tang Yiu Sheng, the son of shop king "Deng Cheng Bo", has put a hotel for sale. The latest hotel in Lai Chi Kok, the Sun Yat-sen Hotel, will be put up for sale immediately after its opening on May 31!

"Xu Yi Ya Jie", "Yue Pin", "Xu Yi", "Pexuan", these warm brand names were once the masterpieces of the "son of the shop king" Deng Yaosheng (Bo Zai) who wanted to dominate the shop. In his early years, his deadbeat father Deng Chengbo saw that the government's policy of revitalizing industrial buildings for the first time in 2010 was profitable, so he immediately acquired a large number of industrial buildings regardless of their location in industrial zones, and then converted the industrial buildings into hotels, hoping to have free travel and food. A large number of mainland tourists will check in at that time. This time, the pig cage did not enter the water. In the past seven years, a total of 14 hotels have been completed or under construction in Tsuen Wan, Kwai Chung, Tuen Mun, Yuen Long, Kwun Tong, Mong Kok and other areas. The purchase price, reconstruction and decoration costs of the 14 hotels are estimated to be up to 15 billion yuan.

The initial idea was formed, and without any experience in operating a hotel, it was quickly established. TANG\'S LIVING GROUP Open a stall and stir up a stir in the hotel.

Unfortunately, the plan was not planned at the right time. The epidemic hit in 2019, and the industries that were hardest hit were the tourism and hotel industries. When four and five-star hotels were on the streets, the hotel in the industrial zone in Bozai could only cut the price. Once, the price was cut. Half of them cost more than 200 yuan a night to attract customers.

Uncle Bo passed away in May 2021. His descendants sold more than 40 properties and cashed out more than 10 billion yuan. The frenzied shipments also included the Wan Chai Sun Yat-sen Hotel, which suffered an estimated book loss of about NT$17 million. Last year, they successively sold Tinglan Residence, Mongkok Hotel Xuyi, and Jordan Paris Hotel, with losses of NT$260 million, NT$370 million, and NT$20 million respectively. The hotel tycoon’s dream is shattered!