Posted on 09/25/2019 3:17:30 AM PDT by Zhang Fei
Hong Kong hotel operators have called on the government to waive rents and even allow properties to offer empty rooms on long-term leases, or for sale, as a way of survival amid a steep decline in occupancy and rates brought on by 16 weeks of protests in the city.
At a new low of HK$71 (US$9.06) a night, some hotels are now cheaper than subdivided flats in the city. Winland 800 Hotel in protest-hit Tsing Yi, is offering that rate on weekdays through the Wing On Travel website. It represents a decline of 65.7 per cent from its lowest rate of HK$207 a night in March 2018.
The monthly rate at the three-star, 800-room hotel, which has sea views, at HK$5,980 for 30 nights – breakfast and wireless internet included according to an advertisement – is cheaper than many subdivided flats. One subdivided flat of 100 sq ft in Causeway Bay, for instance, recently commanded a rent of HK$8,500 a month. Mexan Limited, the hotel’s listed parent company, did not immediately respond to a request for comment.
“Certainly, this year has been far more challenging than any other time for any industry,” said Girish Jhunjhnuwala, founder and chief executive of Ovolo Group, who has called for help for the local hospitality industry “given the current economic downturn”, which has hit been “felt across all corners of the city”.
Jhunjhnuwala said the tourism industry had been hit hardest, and that the government should waive rents and rates for at least a year, set up a short-term fund to help the hotel industry, give visitors incentives, such as special rates, to stop over in Hong Kong for a day or two, and instruct banks to waive interest on loans borrowed by hotels.
“It’s devastating to see the effect the recent situation
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Amazing prices.
What kind of temperature and humidity should I expect in October?
Hong Kong is more than 200 miles of latitude south of Miami.
75 to 82, with Miami humidity. Basically shorts, polo shirt and sandals weather. The time zone change is a killer, but if you’re a grizzled traveler, it shouldn’t present too many problems.
The thing about Hong Kong is that while the streets are sweltering in the summer, the stores and food places are like meat lockers - they seem to target 65F.
Thanks.
I grew up in south Florida.
As far as I’m concerned, it doesn’t even start to cool off there until November.
“Anyone in the Orient looking for a clean and safe (somewhat) English-speaking city to hang out in, for a few days, could do worse than Hong Kong.”
I suspect that people are expecting an all-out civil war to break out at any moment. They are now in what was called in WWII, “The Phony War.” Nobody wants to get caught up in the crossfire.
The heavy hand of Beijing is going to come down on Hong Kong. The demonstrators are going to be disappeared in numbers.
Have a friend who was just there for a swim meet. They almost didn’t make it out. They moved their flight up so they could leave just before they shut down the airport.
So, so sad that the UK relinquished control to China.
Cool! I’m literally going there today. Look forward to getting cheaper hotel rooms.
Naw. Beijing can’t do a Tiananmen square type situation because most of the international banking money would be gone overnight. They’re in a pickle.
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