Decades of partnership: UOB helps Harilela Group grow family business into hotel empire
As a leading regional bank with strong connectivity across markets, UOB empowers businesses to expand and grow internationally
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How UOB partners with Hong Kong’s Harilela Group to expand its hotel business globally
When a business charts its path for expansion, banking services alone are not enough. True progress demands a strategic partner – one that will share the organisation’s long-term vision, align on measurable objectives and cultivate relationships rooted in trust and mutual respect.
These values are at the heart of how United Overseas Bank’s (UOB) Group Wholesale Banking (GWB) division supports clients across the Asean bloc of Southeast Asian nations and beyond. Through tailored financing, investment promotion and strategic advice, UOB helps businesses pursue overseas expansion and profitability.
“UOB drives business connectivity and cross-border trade within the region and from Asean to the rest of the world. Through us, businesses can find the right partners, enhance working capital efficiencies and expand seamlessly into new markets,” says Christine Ip, CEO of UOB Greater China. “We have an extensive regional footprint, strong sector expertise and deep local market knowledge.”
Such support is crucial in Asia, where opportunities abound in emerging technology sectors as well as in more traditional industries like hospitality. With the right projects and banking partner, even long-established names can unlock fresh avenues for expansion.
One such success story is the Harilela Group, a Hong Kong-based hotel operator that is a long-time UOB client. For over 30 years, UOB has supported the group’s diverse needs, from corporate banking for its hotel operations to private banking services for the Harilela family.
On the hotel side, this enduring partnership has included mergers and acquisitions advisory for both purchase deals and asset disposals, as well as cash management and treasury functions for key properties like The Hari Hong Kong and the Holiday Inn Singapore. When necessary, UOB also provides tailored loan facilities and hedging solutions to protect the group against market volatility.
With its regional network, UOB has become the Harilela Group’s trusted one-stop banking partner, supporting the family business as it pursues growth across markets. Most recently, the UOB GWB team played a pivotal supporting role in the group’s expansion into Thailand, Malaysia, mainland China, London and New York – all while continuing to navigate the ever-evolving hospitality landscape.
As the Harilela Group looks ahead, UOB remains committed to supporting its future developments, whether as a strategic adviser, a capital provider, an expert in financial supply chain management or a connector for cross-border opportunities.
“We really understand the importance of relationships – that’s what helps businesses thrive,” says Dr Aron Harilela, chairman and CEO of Harilela Hotels. His father, Hari Harilela, founded the Harilela Group in 1959 along with his brothers George and Peter.
“My father believed hospitality is a people industry, and that you should spend time with everyone involved,” Aron Harilela adds. “I grew up in this business learning from him, so we still get very involved with our bankers and all our other partners.”
The Harilela family’s business journey in Hong Kong began with hawking in the 1930s, followed by ventures in tailoring and brokerage before moving into hotels and real estate with the Harilela Group. In 2016, the group launched its own luxury hotel brand, The Hari, with a vision to create distinctive, personalised hospitality experiences.
“Now we have our own brand out in the world and hope to expand in many different places,” Harilela says. “I think it’s a name that will travel internationally and represent our family and the best of Hong Kong.”
The Hari Hong Kong, located in Wan Chai, is a flagship hotel built from the ground up. Every aspect of its design, from interiors to artwork, was carefully curated to create a true home away from home. However, its December 2020 opening had to face the industry uncertainties caused by the Covid-19 pandemic. Despite that challenge, the family remained confident in their vision – and with UOB’s steady support, they were well positioned to weather the storm.
“Even in turbulent times, our banking relationship with UOB has been spectacular. They have supported us for over 30 years,” Harilela says. “You need that confidence from your partners, whether times are good or difficult, so I look forward to working with them for another 30 years.”
Ip reinforces the importance of trust and value in client relationships. “We combine strong sector expertise with local market knowledge to drive business connections and new projects within the Asean region and with the rest of the world,” she says. “For us, successful collaboration comes from really understanding our customers. We listen to them, look at their needs, tailor our portfolio of products and services, and meet all the regulatory requirements wherever they go.”