The CEO and co-founder of Cornerstone Partners Group talks about the unique trajectory he has had in the hospitality business and his thoughts for the year 2020
As CEO and co-founder of Cornerstone Partners Group (CPG), Jason Chong is constantly flying around the world to wheel and deal for the company.
“I think I’ve seen the inside of an airplane and airport more than the interior of my office!” exclaims Chong about the high stakes that come with leading one of the fastest growing contemporary hospitality investment firms in Malaysia.
Growing up in a family that deals in property development and construction, Chong cultivated a passion for real estate at a young age. “I studied accounting and finance, and when you look at numbers, real estate just makes sense as an investment,” he says.
On that regard, Chong reveals that CPG’s first investment was intended to be a condominium project in Penang.
But they faced an impasse between the state and federal government on housing regulations, as well as an oversupply of real estate on the island. CPG was thus forced to re-examine their purpose for the asset.
“The property we bought was originally a hotel, so we thought we could just give it a new lease of life by working with a hotel partner,” said Chong.
CPG eventually secured a partnership with Doubletree by Hilton from the Hilton Group. This pivot also meant that Chong is now officially a hotelier, a career path he never thought he would one day venture into.
Also read: The Story Behind Adrian Zecha, The Hotelier Behind Aman Resorts & Azerai