Hotel Properties Limited Property development company. First incorporated in 1980 when it acquired the Hilton Hotel on Orchard Road from the Far Eastern Hotels Group, Hotel Properties Limited (HPL) was founded by Peter Fu, and was listed on the Stock Exchange of Singapore in 1982. Ong Beng Seng (Fu’s son- in- law) was appointed managing director.
In the following decades, the range of HPL’s business activities was extended to include hospitality, food and beverages, and retail and investment holdings. It acquired the franchises for Hard Rock hotels and cafés in a number of Asian countries, and opened a Planet Hollywood in Singapore.
The group has acquired or maintained interests in hotels in many countries, such as the Four Seasons Hotel, Le Meridien and the Hilton in Singapore; and the Concorde Hotels in Kuala Lumpur and the Gold Coast, Australia. It also operates Four Seasons resort- hotels in Bali, the Maldives and London, as well as a number of resorts in Bhutan, Myanmar and Vanuatu.
HPL is also known for residential developments in Singapore, such as Four Seasons Park, Cuscaden Residences, Nassim Jade and Scotts 28, and has maintained a stake in various retail and commercial properties, such as the Forum and Le Meridien Shopping Centre.
The group acquired the franchise to sell and distribute Häagen- Dazs ice- cream in Singapore and Malaysia, and expanded into the manufacture and distribution of sporting goods. HPL’s group revenue for 2005 totalled $304 million, with net earnings of $38.3 million.