HK is MOI's key market with regards to recovery and possibility of monetizing its future commercial site.
Hotels and retailers doing brisk business four months after Hong Kong reopening
Hong Kong’s hotel occupancy rates in March reached 84 per cent – back to the levels seen in the second half of 2019, just months before the Covid-19 pandemic struck. The average revenue per available room in March stood at HK$1,170 (S$202).
Lee said that five- and six-star hotels have experienced the strongest revival in Hong Kong, a reflection of the recovery of business activity. She added that room prices may increase in the near future, as supply growth is curtailed.
On the economic front, the return of tourists has been a boon for Hong Kong. The 2.7 per cent year-on-year growth in real gross domestic product (GDP) in the first three months of 2023 ended a run of four straight quarters of contraction.
https://www.businesstimes.com.sg/interna...-hong-kong
Hotels and retailers doing brisk business four months after Hong Kong reopening
Hong Kong’s hotel occupancy rates in March reached 84 per cent – back to the levels seen in the second half of 2019, just months before the Covid-19 pandemic struck. The average revenue per available room in March stood at HK$1,170 (S$202).
Lee said that five- and six-star hotels have experienced the strongest revival in Hong Kong, a reflection of the recovery of business activity. She added that room prices may increase in the near future, as supply growth is curtailed.
On the economic front, the return of tourists has been a boon for Hong Kong. The 2.7 per cent year-on-year growth in real gross domestic product (GDP) in the first three months of 2023 ended a run of four straight quarters of contraction.
https://www.businesstimes.com.sg/interna...-hong-kong