Rank #1409
Choo Chong Ngen
Net worth $3.0B
Hotels · Singapore
- Born
- Apr 21, 1953
- Age
- 73
- Source
- Hotels
- Residence
- Singapore
- Citizenship
- Singapore
- Marital status
- Married
- Children
- 4
- Education
Net worth over time
Biography
- Hotel tycoon Choo Chong Ngen made his fortune in textiles before launching his Hotel 81 budget chain in Geylang, Singapore's red-light district.
- He has expanded into the mid-tier market, introducing five more hotel brands since 2009.
- His privately held hotel empire, now called Worldwide Hotels, which daughter Carolyn has been helping him run since 2002, has 41 hotels across the island.
- Since 2017, he has expanded into Australia, Japan, Malaysia, South Korea and Thailand, with eleven hotels managed by brands like Travelodge and Holiday Inn.
- In 2024, Worldwide Hotels opened the world's largest Mercure hotel with 989 rooms at Singapore's trendy Club Street in the central business district.
- Choo dropped out of school to become a fishmonger to help make ends meet at home.
- In 1995, he opened his first Hotel 81 using the unit number of his home at the time.