16-05-2025
- Business
- South China Morning Post
Decades of partnership: UOB helps Harilela Group grow family business into hotel empire
04:17
How UOB partners with Hong Kong's Harilela Group to expand its hotel business globally
How UOB partners with Hong Kong's Harilela Group to expand its hotel business globally
When a business charts its path for expansion, banking services alone are not enough. True progress demands a strategic partner – one that will share the organisation's long-term vision, align on measurable objectives and cultivate relationships rooted in trust and mutual respect.
These values are at the heart of how United Overseas Bank's (UOB) Group Wholesale Banking (GWB) division supports clients across the Asean bloc of Southeast Asian nations and beyond. Through tailored financing, investment promotion and strategic advice, UOB helps businesses pursue overseas expansion and profitability.
'UOB drives business connectivity and cross-border trade within the region and from Asean to the rest of the world. Through us, businesses can find the right partners, enhance working capital efficiencies and expand seamlessly into new markets,' says Christine Ip, CEO of UOB Greater China. 'We have an extensive regional footprint, strong sector expertise and deep local market knowledge.'
Such support is crucial in Asia, where opportunities abound in emerging technology sectors as well as in more traditional industries like hospitality. With the right projects and banking partner, even long-established names can unlock fresh avenues for expansion.
One such success story is the Harilela Group, a Hong Kong-based hotel operator that is a long-time UOB client. For over 30 years, UOB has supported the group's diverse needs, from corporate banking for its hotel operations to private banking services for the Harilela family.
The Harilela family stands before the building site of the Holiday Inn Golden Mile in Hong Kong in 1974, the year before the Harilela Group's flagship property opened to the public. Photo: Harilela Hotels
On the hotel side, this enduring partnership has included mergers and acquisitions advisory for both purchase deals and asset disposals, as well as cash management and treasury functions for key properties like The Hari Hong Kong and the Holiday Inn Singapore. When necessary, UOB also provides tailored loan facilities and hedging solutions to protect the group against market volatility.
