FAR East Organization has appointed Arthur Kiong as executive director and CEO of its hospitality business, effective July 15, 2012.
In his new role, Kiong will provide key leadership as Far East Organization prepares to grow its hospitality property development and management business, starting with a move to restructure its hospitality assets under listed subsidiary Orchard Parade Holdings, and a proposal to establish a Far East Hospitality Trust (Far East H-Trust).
The move marks Kiong’s return to the company where he headed its then newly-created hotel division from August 2005 to December 2007. In January 2008, he moved to Banyan Tree Hotels & Resorts as senior vice president – Group Sales & Marketing. He was promoted in January 2011 to managing director - Hotel Operations (Asia Pacific & China), in addition to a concurrent role as senior vice president - Group Marketing Services.
Kiong’s last appointment at Banyan Tree Holdings was as CEO – Canopy Marketing Group, where he was responsible for the inception of a marketing company providing strategic insights and marketing services to the various business owners in the Banyan Tree Group.
In another development yesterday, Orchard Parade Holdings received approval from shareholders to proceed in three key areas of development: to be renamed as “Far East Orchard” to leverage on the parent company brand, to inject its hospitality assets into the proposed Far East H-Trust, and to enter into an asset swap with Far East Organization to acquire its hospitality management business and selected healthcare properties.
Far East Organization plans to list Far East H-Trust subject to favourable market conditions, following which Far East Orchard will acquire the hospitality management business of Far East Organization. Kiong and his management team will then move from Far East Organization to Far East Orchard, reporting to the latter's group CEO & managing director, Lucas Chow.
“Arthur brings deep and broad experience across all aspects of the hospitality business from operations to marketing and business development. His expertise and strong Asia knowledge makes him an ideal candidate to drive our hospitality division, as we look to expand our business footprint by tapping on the region’s growth, and diversify our areas of business, for instance, through third party management contracts,” said Chow.
“Arthur will work together with his team to bring our hospitality business to a new level of operational excellence, drive revenue growth and strengthen our key brands, including Village, Quincy and Oasia, through enhancing service delivery and brand experience," he added.