Michael Kum, 80, has a net worth of $1 billion which was initially made from shipping and later in hospitality. He runs a chain of 20 hotels across Europe and Asia. His ownership of the chain of hotels is held via M&L Hospitality. The group of hotels include Hyatt and Hilton.
Michael Kum had retired with savings of $350 million in the bank. He bought Four Points by Sheraton for $170 million. Currently, his hotels are valued at $1.6 billion. The hotel empire is made up of 5,400 rooms located in 19 hotels spread in 12 cities across the world.
The billionaire Michael Kum was a son of street hawkers. He got into hospitality business in 2009 after selling his previous business to Macquarie Group.
Michael Kum owns other assets such as Atlantic Navigation which is a shipping company based in Singapore.
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In 1976, Michael Kum co-founded Offshore Equipment which was in the business of chartering barges and vessels to the oil and gas industry.
All hotels owned 100 percent by Michael Kum and his family in Singapore, New Zealand, Europe and Australia:
- Hyatt Regency Sydney
- Swissotel Sweden
- West Hotel Sydney
- Hilton Melbourne
- Double Tree by Hilton Melbourne – Flinders Street
- Novetel Perth Langley
- Hilton Auckland
- Chateau on the Park
- Ibis on Bencoolen
- Hyatt Regency Manchester
- Hyatt House Manchester
- Hyatt Regency London Stratford
- Hyatt Place London Heathrow Airport
- Crowne Plaza Aberdeen Airport
- Holiday Inn Express Aberdeen Airport
- Hilton Prague Old Town
- Park Inn by Radisson Brussels Centre Midi
- Ewart Hotel Amsterdam Airport
- Radisson Hotel, Amsterdam Airport
Five of the above hotels are located near airports. Hence very strategic location for travelers. The others are located in the Central Business Districts of various cities. That is their formula which they consider when choosing hotels to include in their hospitality portfolio. Location is the key strategy for M&L. The company has invested $900 million in ongoing construction projects.
Michael Kum also has a stake in MMA Offshore which is an Australian vessel operator.
In 1975, Michael Kum and his wife established Marine Equipment which supplies support ships to oil and gas companies.
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