Jit Hg has been appointed as the new Chief Marketing Officer (CMO) at Hoiana Integrated Resort.
A former head of resort marketing, Hg brings with him experience in hospitality, retail, casino and digital marketing leadership. Hoiana trusts these skills are highly adaptable, believing Hg will transfer seamlessly to his position as CMO.
Hoiana claims Hg will broaden the company’s growth in new markets, and drive preference in highly competitive market spaces with his 25-year experience leading teams and cultivating data-driven insights for brand growth.
Hoiana hopes Hg, as an early adopter of digital marketing, will use his expertise in the field to drive company growth. The company has also announced that Hg will take on a leadership position in strategic directions, reporting directly to Hoiana President and CEO Steve Wolstenholme.
Furthermore, Hg will be responsible for creative development and marketing execution, directing Hoiana’s overarching objectives to ensure development and strong performance drive is optimised. His key goal is to create demand for the brand with existing customers, while drawing in further guests, particularly international ones.
Jit Hg notes: “It’s my belief that the role of a CMO is to set the growth trajectory for the brand, with a clear vision for the brand’s future, and to then coach the right talents to bring our vision to life, ultimately achieving all our growth plans. As a new brand in the market space, or to be exact, a challenger brand, we are the fresh face in the industry."
Hg has previously been the recipient of creative and effectiveness awards such a leading a team to reach Digital Agency of the Year, something Hoiana hopes he is able to emulate.
"It’s my belief that the role of a CMO is to set the growth trajectory for the brand, with a clear vision for the brand’s future, and to then coach the right talents to bring our vision to life, ultimately achieving all our growth plans." Jit Hg, Chief Marketing Officer, Hoiana
SJM reports losses of over $530m despite revenue gains
SJM Holdings has announced losses of HK$4.144bn (US$530.3m) for the year ended 31 December 2021, despite a 31.5% increase to net gaming revenue.
The company's losses mark a year-on-year decrease, with debts racking up an additional 37% (HK $1.12bn) from the year ended 2020.
There was a slight improvement in adjusted EBITDA, with an increase of 24.3% on 2020, although losses still stand at HK $1.58bn.
The most significant positives for SJM come in net gaming revenue, with an increase of 31.5% on 2020; with revenue of HK$9.61bn, and a 64.7% increase to hotel, catering and retail profits with HK$592m made for 2021.
SJM's The Grand Lisboa Palace, its flagship venue, incurred pre-opening costs of HK$1m when it opened its doors to the public on 30 July 2021. This has added to total opening costs of the hotel, which have risen to HK$38.2 bn.
The Grand Lisboa Palace had average occupancy rates of 48.7%, a considerable increase from a Covid-19-struck 2020; occupancy rates rose to 58.8% for the full year, while average room rates decreased 56.2%; likely a temporary policy to attract visitors post-Covid.
Furthermore, SJM has announced a revolving credit facility of HK$10bn, HK$1.3bn of which was undrawn as of 31 December 2021. The group has HK$3.35m circulating in cash, short-term bank deposits and pledged bank deposits. The company's debt stands at HK$22.57m as noted in its review.
Macau "stands firm" in retaining anti-epidemic policies
Mr. Ho lat Seng, Chief Executive of the Government Information Bureau (GCS), has stressed that Macau will continue to persist with anti-epidemic policies.
Any hopes of relaxation to Macau's current policies have been set ablaze, for now, with Ho pointing out that the Omicron variant remains highly contagious as it continues to bedevil hotels intended for use as medical observation facilities. These areas have now been deemed too risky due to the increased likelihood of Covid transmissibility.
However, Ho reminded reporters that monitoring of the latest epidemic developments in neighbouring areas would remain a constant. All related challenges brought to Macau's economy will be monitored in tandem with the pandemic, too, and Ho admits the latest military developments involving Russia and Ukraine may have a rippling effect on Macau's economy.
