He opened a restaurant with a college friend. It redefined Chinese fine dining.

Business Insider

08-05-2025

For some, clarity comes in moments of stillness. For Malcolm Wood, it's usually the opposite.
"A casual morning for me would include going up 1,000 meters into the mountains, speed flying back to the field in front of my house, and hopping on a phone call by 9 a.m.," Wood told Business Insider.
Wood is best known for his work with Mott 32, a Chinese fine-dining brand recognized for its striking design and modern spin on traditional dishes. The first location opened in Hong Kong in 2014 and has since expanded to cities like Las Vegas, Singapore, and Vancouver — earning global buzz both for the food and the decor.
These days, the British-Chinese entrepreneur splits his time between Hong Kong, where he co-founded Maximal Concepts, the restaurant group behind Mott 32, and France, where he enjoys extreme sports near his home in the French Alps.
Wood, 43, says that adventure and extreme sports have taught him about risk management.
"They demand an intense level of focus, almost like entering a flow state, where distractions disappear, and precision takes over," he said. In some ways, it's a form of active meditation. "I'm constantly pushing limits while staying fully present."
East, West, East
Born in Taipei to a Taiwanese mom and an English dad, Wood spent the early '80s in Hong Kong. Because his stepfather was in the airline industry, the family frequently moved to new countries. By the time he started university, he had lived in eight countries.
At 18, as an art history student at the University of Bristol in England, Wood met Matt Reid. In their first year of school, the two launched Liquid Promotions, an events company.
Wood said they hosted parties for up to 5,000 people while they were in college. "The money was very good for a student and helped to shape how I approached entrepreneurship," he said.
They have been business partners ever since.
Reid has compared Wood's business acumen to his passion for extreme sports. "You map out your plan, your teammates, your resources, your skills, and then execute this plan," Reid told BI.
The great expansion
After getting a master's in finance at the University of London, Wood moved to Hong Kong, where he and Reid started Maximal Concepts. After a few failed attempts, the hospitality group opened the first Mott 32.
Now, Maximal Concepts has a team of about 700 people.
The Hong Kong food writer Gloria Chung told BI that the restaurant stood out from the beginning, adding that a decade back, there was nothing like it: "Mott 32 was one of the first fine-dining modern Chinese restaurants that embraced a more Westernized setting, offering a refreshing take on Cantonese cuisine."
From the start, Mott 32 stood out by bridging the gap between luxurious fine dining, often associated with Western cuisines, and the no-frills dim sum parlors that dominated the streets of Hong Kong.
Over the last 10 years, the Cantonese restaurant has expanded to nine locations and nine more are scheduled to open in the coming years, including in London, Melbourne, and Los Angeles.
These days, Mott 32 has become synonymous with upscale Chinese dining — a go-to spot where execs take clients to impress. The Hong Kong flagship is tucked in the basement of a historic bank building.
The restaurant has a dramatic interior — plush leather, moody lighting, and a Shanghai-industrial flair. Popular dishes include the applewood-roasted Peking duck and pork and black truffle dumplings, along with blinged-out cocktails.
In 2018, the first US restaurant opened in Las Vegas.
Prices at the Vegas venue now range from $13 for spring rolls to around $15 for four pieces of dim sum. They can also go up to $268 for A5 Japanese Miyazaki wagyu with black bean paste and $598 for braised dried abalone.
Maximal Concepts also opened The Aubrey — an izakaya at the Mandarin Oriental, Hong Kong. It was ranked 10th on the 2024 Asia's 50 Best Bars list.
Last year, Sunset Hospitality Group, a Dubai-based lifestyle hospitality company, acquired a majority stake in Maximal Concepts.
Wood says this will help to accelerate the company's growth and infrastructure. "The idea is that we join Sunset's IPO in a few years where we have a significant contribution to the offering."
Antonio Gonzalez, the CEO and Group Chairman of Sunset Hospitality Group, told BI that Maximal Concepts' hospitality approach fits well with SHG's values and growth goals. "This investment provides us with additional operating and creative firepower," he said in a statement.
Asian origins
When it comes to upscale Asian global dining empires, Mott 32 is in competitive company among the likes of Hakkasan, Zuma, and Nobu.
But while Hakkasan and Zuma opened in London, and Nobu started in New York City, Wood takes pride in Mott 32's Asian origins.
"Mott 32 is one of the few luxury Asian brands to have originated from Asia," he said. "We're really proud that it originated in Hong Kong."
The restaurant helped to give a different perspective on Chinese food, said Chung, the food writer: "Many people often think Chinese food doesn't deserve to be priced at a premium, yet Mott 32 played a pivotal role in changing that perception."
Wood chose to base his F&B business in Hong Kong largely because of the opportunities. "It really is an entrepreneurial city with influences from all around the world," he said. "The city just works — super efficient, based on UK law, and some of the best global tax in the world for corporations."
His roots play an important role, too. "My mom still lives there, so it's always felt like home," he said.
Challenges along the way
After 25 years in business, Wood says he has no regrets. "When you're younger, you trust everyone until they burn you. Then you start learning," he said.
During COVID-19 and the Hong Kong protests, he had to close down and sell multiple venues. "I wouldn't be the business person I am today without these lessons."
His advice to his younger self?
"Have a thick skin. Don't worry about what others think. The right partnership adds value; the wrong one drags you down — choose wisely."
The power of planning ahead
Balancing multiple ventures while prioritizing family — he and his wife, Sandra, have three kids, now 21, 10, and 5 — has taught Wood the power of planning ahead.
"I tell my managers: spend the first 20% of your week organizing the rest. Otherwise, that 80% turns into 200%."
Wood doesn't stick to set working hours but plans his week every Sunday at 5 a.m. "If you want to make time for your family, you can. It's all about optimizing your schedule," he said.
Every year, he sets a goal to learn something, from obtaining his yacht master's certification in the Mediterranean to earning a private pilot's license in Spain and France.
This year, he's focusing on learning French. He also plans to complete specialized training so that he's qualified to land a plane in the Alps.
"If you let life slip away and keep a to-do list for retirement, that's the wrong approach entirely," he said. "Your life should enable you to do the things you love."