YY Group Inks Landmark Deal with Leading Hong Kong Hotel Group

Rhea-AI Summary

YY Group (NASDAQ: YYGH) announced that subsidiary YY Circle HK signed a manpower support cooperation agreement with a leading Hong Kong hotel group worth more than HKD 35 million, covering nine major properties.

The contract is expected to deliver over 50,000 worker engagements annually across front desk, housekeeping, dining, concierge and recreation roles, and expands YY Circle HK's Hong Kong footprint to more than 30 hotels after two years of operation. The deal follows recent Thai agreements with Hyatt and Sheraton and targets growth in Hong Kong's ~US$16 billion casual labor market.

Positive

• Contract value exceeding HKD 35 million for nine hotel properties
• Expected >50,000 worker engagements annually under the agreement
• YY Circle HK now serves >30 hotels in Hong Kong after two years

Negative

• Hong Kong hospitality faces manpower shortages and rising costs
• Market shift to manpower outsourcing increases competitive pressure

Insights

Corporate Growth Strategist

Large HKD 35 million contract expands YY Circle HK to nine major properties, scaling service volume to 50,000+ engagements annually.

YY Group gains immediate revenue visibility and market foothold in Hong Kong through a manpower support agreement covering nine flagship properties and a contract value above HKD 35 million. The deal leverages the subsidiary's existing footprint—now serving over 30 hotels and catering groups—and translates into operational demand across front desk, housekeeping, dining, concierge, and recreation functions.

The arrangement depends on execution quality, worker retention, and renewed contract terms; risks include margin pressure from labour costs and service delivery failures. The announcement cites expected volume of more than 50,000 worker engagements annually and positions YY Group against a casual labour market valued at US$16 billion, which frames the addressable opportunity.

Watch for contract start dates and initial quarterly revenue recognition, client retention or expansion at the nine properties, and any disclosures on margins or operational KPIs over the next 12 months. Those items will determine whether this agreement materially improves recurring revenue and scalability for the regional IFM business.

HKD 35 Million Manpower Solutions Contract Significantly Broadens YY Circle HK's Hospitality Industry Footprint

SINGAPORE, Oct. 7, 2025 /PRNewswire/ -- YY Group Holding Limited (NASDAQ: YYGH) ("YY Group" or the "Company"), a global leader in on-demand workforce solutions and integrated facilities management (IFM), today 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, this partnership significantly expands YY Circle HK's hospitality portfolio and advances YY Group's regional growth strategy.

This partnership builds on the momentum of the Company's recent agreements with Hyatt and Sheraton in the Thailand market, highlighting the trust leading international hospitality brands place in the Company's advanced technology and flexible, scalable labor solutions. 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, reflecting an impressive pace of growth. Under this agreement, 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, showcasing the depth and diversity of the Company's trained regional labor pool.  

"We're excited to deliver impactful labor solutions, at scale, for a new top-tier partner in Hong Kong's thriving hospitality industry," said Mike Fu, Chief Executive Officer and Executive Director of YY Group Holding Limited. "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."

Anthony Ip, Co-founder and Country Director of YY Circle HK, added, "Securing this premier hotel client is a testament to YY Circle HK's local expertise as well as YY Group's peerless resources. Powered by the Group's advanced platform technology and deep labor pool, YY Circle HK is uniquely positioned to solve pain points for the region's largest hotels, enhancing operational efficiency, lowering staffing costs and easing workforce shortages. We look forward to empowering our local partners and accelerating growth across the Hong Kong market."

Hong Kong's casual labor market, valued at approximately US$16 billion, is rapidly transitioning toward a "manpower outsourcing" model, presenting significant growth opportunities for YY Group as a global leading on-demand staffing provider. Meanwhile, Hong Kong's hospitality industry is facing myriad manpower challenges, such as flexible staffing needs and rising costs. As demand for innovative staffing solutions grows, YY Group's tailored, scalable solutions are poised to meet the needs of Hong Kong's dynamic economy, capturing the market's immense potential.

About YY Holdings Limited

YY Group Holding Limited (Nasdaq: YYGH) is a Singapore-headquartered, technology-enabled platform providing flexible, scalable workforce solutions and integrated facility management (IFM) services across Asia and beyond. The Group operates through two core verticals: on-demand staffing and IFM, delivering agile, reliable support to industries such as hospitality, logistics, retail, and healthcare.

Leveraging proprietary digital platforms and IoT-driven systems, YY Group enables clients to meet fluctuating labor demands and maintain high-performance environments. In addition to its core operations in Singapore and Malaysia, the Group maintains a growing presence in Asia, Europe, Africa, Oceania and the Middle East.

Listed on the Nasdaq Capital Market, YY Group is committed to service excellence, operational innovation, and long-term value creation for clients and shareholders.

For more information on the Company, please visit https://yygroupholding.com/.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the YY Group Holding Limited's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to, (i) growth of the hospitality market in Hong Kong, (ii) capital and credit market volatility, (iii) local and global economic conditions, (iv) our anticipated growth strategies, (v) governmental approvals and regulations, and (vi) our future business development, results of operations and financial condition. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. All information provided in this press release is as of the date of this press release, and YY Group Holding Limited undertakes no duty to update such information, except as required under applicable law.

Investor Contact
Phua Zhi Yong, Chief Financial Officer
YY Group
enquiries@yygroupholding.com

Mark Niu, Chief Strategy Officer,
YY Group
mark.niu@yygroupholding.com

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SOURCE YY Group Holding Limited

FAQ

What is the value of the manpower contract YY Group (YYGH) announced on October 7, 2025?

YY Group announced a manpower support agreement exceeding HKD 35 million covering nine hotel properties.

How many worker engagements does the YYGH hotel contract expect to deliver annually?

The agreement is expected to fulfill more than 50,000 worker engagements annually across multiple hotel departments.

How much Hong Kong hospitality exposure does YY Circle HK have after this deal (YYGH)?

After two years in Hong Kong, YY Circle HK now provides services to over 30 hotels, expanded further by this agreement.

How does the new YYGH deal relate to YY Group's recent global contracts?

The Hong Kong agreement builds on recent YY Group manpower deals with Hyatt and Sheraton in Thailand and supports regional growth strategy.

What market opportunity does YY Group (YYGH) cite for its Hong Kong expansion?

YY Group highlighted Hong Kong's casual labor market at roughly US$16 billion as a growth opportunity for manpower outsourcing.