C hoo Chong Ngen is a self-made Singaporean billionaire known as the 'Hotel 81 king'. He built his fortune from scratch, creating one of Singapore's largest budget hotel chains. He grew up in a village and started his career in textile sales before venturing into real estate. He initially made money by buying and selling shophouses before spotting a major opportunity in the budget accommodation sector.

In 1995, he founded his first Hotel 81 in Geylang, Singapore's red-light district, offering affordable, no-frills accommodation. The concept was a huge success, and he rapidly expanded the chain across the island. He has since diversified his portfolio, moving into the mid-tier and upscale hotel markets with brands like V Hotel and Hotel Boss. His company, Worldwide Hotels, is now the largest hotel operator in Singapore by number of rooms and also owns properties in other Asian countries. His story is a classic tale of a sharp entrepreneur who identified a market niche and dominated it.