Friday, August 16, 2013

Spreading the BIG message!

Developing a hotel with character has been my obsession for the last 3 years. Seeing the BIG hotel come alive certainly has been an interesting journey. From acquiring the property to emptying it of tenants, design concept to testing of beds. The whole journey has been an interesting affair and I could not have done it without my team. I am proud of my people who have been with me through the business journey in the last 3 years. My education, real estate people and hospitality professionals have been a source of strength even when I am most down. I will treasure these pillars.

The whole market for hotels has gone nuts. Gallery Hotel, Park Orchard and now the Sentosa have all gone for record pricing. All the room are going for 1 to 1.5 million in pricing. When I initially put the hotel up for sale, there were some skepticism on the pricing but now it seems very reasonable at $260 million. My real estate lawyers were joking with me that the market players commented that I always seem to be emotionally attached to the properties acquired but I seem to have no qualms once the price is right. Well, my investment philosophy has always been long term but if the target is achieved, it makes sense to recycle capital.

These exact same guys are now asking when is my next property investment course as they are curious on the strategies employed. There are many teaching programs but I am proud that we practise what we preach. Now that we are seeing some results, many skeptics are now converted and keen to learn. I am proud that I have taught not just novices but even real estate professionals. However, I am past my prime in teaching and have declined to teach further classes. I may change my mind later but at this moment, I am relishing the many opportunities at hand and enjoying life.

The new international economic environment and government curbs will have interesting impact on the investment scene and I will share more at a later date. In the meantime, it is Friday and I wish a great weekend ahead. Till the next entry, have a blessed life!

Your Friend
Andy Ong

Thursday, August 15, 2013

I’m Addicted!!!

Hi guys, it has been a long time since my last post. I have been so busy catching up on all the lost time in the first few months of this year. I have just visited so many places that I have lost track of where I am. I have found that the opportunities in the region are so interesting that it simply amazes me that the property players are still obsessed with this little red dot. I will elaborate later posts.

However busy I am, I am so used to going to church everyday that I’m actually addicted to going to church at Saint Andrew’s Cathedral. It all started at the beginning of the year, when I was in self doubt that I sought comfort and solace in God’s fold. What happened subsequently was nothing short of miraculous. I was guided through the whole experience through a whole series of people and events culminating to enlighten me.

Now I start the day with hymns before proceeding to church. Don Moen’s  “God will make a way” and “ Tis so sweet to trust in Jesus” are my favourite hymns. At church is where I find peace, an oasis to contemplate life and find strength to face the challenges of life. What I can say is that I am a new person who is past a lot of material things and looking at life from a different perspective. This post is for all of you who are facing challenges. Have faith in him and you will not be disappointed. He will make a way even if there seems to be no way.

Till the next entry, have a blessed life!

Your Friend
Andy Ong