{"text":[[{"start":6.36,"text":"Members of an exclusive Hong Kong club have complained to the city’s government as part of a bitter dispute that threatens their ability to get a table at lunchtime."}],[{"start":19.44,"text":"Members of the Hong Kong Golf and Tennis Academy have written to the Legislative Council to protest against what they regard as a breach of the spirit — if not the letter — of their membership agreement."}],[{"start":30.92,"text":"They are furious at the plan to let members of Carlyle & Co, a glitzy social club at Kowloon’s Rosewood hotel, use the HKGTA’s Town Club in the Central area of Hong Kong Island."}],[{"start":42.76,"text":"The Town Club opened in 2022 on the 24th floor of the New World Tower and describes itself as a “hidden gem in the beating heart of the city that promises exclusivity and infinite surprises”."}],[{"start":55.08,"text":"The letter, seen by the FT, from the unofficial members’ group urges the Legislative Council’s complaints department to examine “whether Hong Kong’s current laws adequately protect consumers and quasi-investors in private clubs, club-like memberships and patronage schemes”. They were not asking the government to officially “adjudicate” the dispute, however."}],[{"start":75.72,"text":"A lifetime HKGTA family membership, which can be passed down to children, includes a HK$2.68mn (US$342,000) admission fee along with a HK$2,800 a month levy, according to materials seen by the FT."}],[{"start":91.76,"text":"Carlyle & Co — named after the historic Rosewood-owned hotel in New York — is considerably cheaper, with an initial fee of HK$88,000 (US$11,200) per person, or HK$40,000 for under-33s, and a HK$2,400 monthly subscription. Some members may have paid more or less depending on when they joined."}],[{"start":114.48,"text":"One HKGTA member, who asked not to be named, expressed concern that allowing Carlyle & Co members to use the Town Club would reduce its exclusivity — and make it even harder to get lunch reservations."}],[{"start":126.94,"text":"They also said it was “unfair” that Carlyle & Co members would have access to their Town House when HKGTA members will not be able to use the club in the Rosewood hotel. However, they will retain exclusive access to the HKGTA’s country club outside the city in the Sai Kung area."}],[{"start":145.12,"text":"Another member said: “The patrons who joined the HKGTA are all quite well off, like CEOs — it’s baffling why they’d want to piss off this crowd.”"}],[{"start":154.32,"text":"HKGTA members fear the value of their memberships on the secondary market will be diminished by the changes. One member said he was told by a membership broker that his HK$2.68mn membership could only be resold for HK$1mn on the secondary market."}],[{"start":171.36,"text":"Rosewood Hotel Group said the secondary market value of HKGTA patronage was determined by market conditions as well as “a range of other factors”."}],[{"start":180.52,"text":"Both the HKGTA and Carlyle & Co are ultimately overseen by the Cheng family, which also controls New World Development — the listed property group that owns several upmarket hotels in Hong Kong."}],[{"start":193.549,"text":"Carlyle & Co falls under the empire of Sonia Cheng, the granddaughter of New World founder Cheng Yu-tung. She is chief executive of Rosewood Hotel Group and an executive director of New World."}],[{"start":204.64,"text":"HKGTA was previously overseen by Adrian Cheng, who was chief executive of New World until he stepped down in September 2024."}],[{"start":213.44,"text":"New World has been in the midst of a restructuring for the past year as it attempts to reduce debt and cut losses, including those stemming from a costly development next to Hong Kong airport."}],[{"start":223.92,"text":"Rosewood was “appointed to manage” the HKGTA in July last year, according to a club LinkedIn post. People familiar with the matter said the decision to allow Carlyle & Co members in was a way to boost the Town Club’s income."}],[{"start":237.68,"text":"Rosewood said the Town Club changes were based on the “commercial realities of its operations” and were intended to place the club on a “more resilient and sustainable footing”."}],[{"start":247.32,"text":"While members’ protests prompted a delay in bringing in the changes, a message from the club seen by the FT states that Carlyle & Co members will be able to start using the Town Club from early August, except at lunchtime, and gain full access from November."}],[{"start":265.76,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1785556503_9845.mp3"}