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"The first six months of 2016 have been challenging", company chief executive offier Clement Kwok said, "Hong Kong, which is the largest geographic contributor to our group, has been impacted by the well-publicised declines in tourism and high-end retail spending and a softening in the high-end residential market"



"Generally the outlook for our businesses remains challenging for the remainder of the year and we are therefore focused on cost containment and managing the margins of our operations", said Kwok. 



The company has its largest new project under development the Peninsula London, while the Chicago unit renovation will be done in August, poised for new opening. 

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