Oct. 8 at 10:22 PM
YY Group Holding (Nasdaq:
$YYGH) announced that its subsidiary, YY Circle HK, has entered into a manpower support cooperation agreement with a premier Hong Kong hotel group, covering nine of the hotel group’s largest properties under a contract exceeding HKD 35 million.
YY Group is a B2i Digital Featured Company. See its investor profile at https://b2idigital.com/yy-group.
This partnership significantly expands YY Circle HK’s hospitality portfolio and advances YY Group’s regional growth strategy. After just two years of operation in Hong Kong, YY Circle HK now provides manpower support services to over 30 hotels and catering groups in the region. The agreement builds on the company’s recent contracts with Hyatt and Sheraton in Thailand, demonstrating momentum across Asian markets.
Among the highlights from the announcement:
• YY Circle HK expects to fulfill more than 50,000 worker engagements annually across the hotel group’s front desk, housekeeping, dining, concierge, and recreation departments.
• The partnership leverages YY Group’s technology platform and flexible labor solutions to address Hong Kong’s hospitality industry staffing challenges.
• Hong Kong’s casual labor market, valued at approximately US
$16 billion, is rapidly transitioning toward a “manpower outsourcing” model, presenting growth opportunities for YY Group.
• This deal strengthens YY Group’s position in a market facing flexible staffing needs and rising operational costs.
Mike Fu, Chief Executive Officer and Executive Director of YY Group Holding Limited, noted, “We’re excited to deliver impactful labor solutions, at scale, for a new top-tier partner in Hong Kong’s thriving hospitality industry. By strengthening our presence in Hong Kong, we’re not only unlocking new growth potential locally, but also paving the way for more high-impact partnerships globally. We see this as a catalyst in advancing our broader strategy to scale intelligently and sustainably while creating value for all stakeholders.”
Read full details in the press release at https://ir.yygroupholding.com/news-releases/news-release-details/yy-group-inks-landmark-deal-leading-hong-kong-hotel-group.
YY Group’s leadership team includes Fu Xiaowei (“Mike Fu”), Founder & CEO; Zhang Fan, Co-Founder & Director; Phua Zhi Yong (“Jason Phua”), CFO; Xu Lin Pu (“Rachel Xu”), CHRO; and Teng Sin Ken, CIO.
Learn more at www.yygroupholding.com or contact
[email protected].