Cancún’s Plaza Hong Kong Gets $100M Revamp

Cancún, Mexico — Facing a downturn in restaurant sector sales, Chinese entrepreneurs have announced a major investment to renovate Plaza Hong Kong and attract new capital. The plan involves a total investment of approximately 100 million dollars for various projects in Cancún, which will be concentrated in a new business complex at the site of the future Plaza Hong Kong, where a convention center will also be constructed.

Kit Bin Wong, director of the group, explained that the decision was driven by the need to remain competitive amidst declining sales in the restaurant industry. She cited increased tax burdens, rising labor benefits, and a drop in customer flow as factors that have caused operational expenses to soar by 300 percent, reducing profits to a minimum.

"There are months where we cannot even reach the break-even point," Wong stated. "This motivated us to seek new alternatives to adapt to current market trends."

Wong recalled that forty years ago, when the Hong Kong restaurant first began operations, profits were as high as one thousand percent. Today, however, earnings are barely sufficient to avoid closing down. Following an analysis and meetings with other Chinese entrepreneurs, the group decided to embark on a new era with a completely new concept for the plaza.

The new concept includes a business complex and a convention center. Wong confirmed that alliances have been established with approximately 20 entrepreneurs who will participate in this long-term project, which entails a complete remodeling of the plaza—from its facade to the restaurant itself, which will continue to operate as it is considered the essence of the plaza.

Wong revealed that the project will be designed by Chinese architects, and construction work could begin next year. Regarding the convention center, she said that the Hong Kong Group alone will invest one and a half million dollars, with operations scheduled to commence in November.

The overall project is expected to attract new capital, enabling the creation of a business complex that will include the production of supplies, a rental agency, a car dealership, and a provisioning service. Wong insisted that this marks a new era for the group she represents.

The group is currently processing the necessary permits for construction. Wong also announced that a delegation of entrepreneurs and officials will travel to China in May 2026 to continue adding allies and strengthen commercial relations between Mexico and the Asian nation.