theceomagazine.com | 67“I ENCOURAGE
OUR PEOPLE
TO THINK FOR
THEMSELVES
AND HAVE
A VOICE.”
Mike started at JLL as an associate director in
investment sales when the company opened an office
in Brisbane. At the time, JLL’s Hotels & Hospitality
Group was a small team of eight. Over the years,
the division continued to grow and Mike eventually
moved to Singapore to lead Asia’s investment team.
In February 2018, he was appointed JLL Hotels &
Hospitality Group Asia CEO, now leading more than
60 employees in five countries.The CEO Magazine: Can you talk about some
of the highlights of your career so far?
Mike: Having marketed and sold some of the
highest-profile transactions in Asia – such as the
InterContinental in Hong Kong, which was sold for
just under US$1 billion, and the Grand Park Orchard
in Singapore, which was sold for just over S$1 billion
dollars – being involved with some of these assets
certainly has been a highlight of my career.
Another area I’d add is watching people we
employed as associates and analysts 10 or 15 years
ago step into leadership roles and become the next
generation of our business. It is very rewarding.What are some of the biggest opportunities
for JLL in Asia?
The opportunity in Asia is significant, to put it
mildly. We have approximately 60 per cent of the
world’s population based in Asia. Emerging markets
like China, India, Indonesia and the Philippines
present huge opportunities for us as a group.
There is a big transformation in the middle class
in many of these countries and they’re all travelling
more. There’s been this proliferation of low-cost
carriers around Asia and that has allowed this rising
middle class to travel. The rising disposable income
of these middle classes and their increased propensity
for travel is enormous. And where do they typically
go for their first trip? They travel nearby. China is
the number one source market for many countries
around the region. The opportunities are in city
centres and beach resort destinations that have good
air connectivity. We’re seeing large growth in travel
numbers, and I think there is potential to capitalise
on a trend, which is not going to slow down in the
coming years.Are there any different trends that you’re
seeing in real estate compared with when you
first started more than 20 years ago?
It’s fair to say that the industry has gone through
tremendous change and is continuing to do so.
Technology is having a great impact on the way
hotels operate. Now everyone can critique the hotel
before they go and stay there or decide what
restaurant they want to eat at. The power is certainly
in the hands of the consumer. And the hotel industry
has had to change. Years ago, we all went to our
travel agent to book our travel, but now we do it
ourselves from the palm of our hands. »“We have worked with JLL for the past 30 years. JLL is very responsive,
professional and fair. Whenever there was an obstacle, JLL always found
a solution that was acceptable to both parties. We will certainly continue
to work with JLL.” – Richard Li, Managing Director, Carlton Hotel