Hong Kong’s hotels are down on their knees as two in three rooms sat empty in Asian hospitality industry’s first-quarter slump squib

Hong Kong hotels were the biggest losers in Asia’s hospitality industry in the first-quarter, as travel bans and lock-down orders to contain the global coronavirus pandemic kept business travellers and tourists away, hitting the financial hub particularly hard.Average nightly room rate across all categories of hotels plunged 41.5 per cent in the city to HK$865 (US$111.6) during the first quarter, as an estimated two-thirds of rooms across the city sat empty, according to Colliers’ Asia Hotel…
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