This sentiment survey was specially designed to examine the impact of the COVID-19 pandemic on the outlook for the Hong Kong hotel market.
In addition, the overall Hong Kong hotel market performance in 2019 was included to review the impact of the social campaign to the industry.
Sentiment Survey key takeways:
The survey was open from 6th – 20th March, received 58 responses from our valuable hotel partners, with the following key takeaways:
- Over 90% respondents expect that the impact of COVID-19 will last for 3 months and more till H2 2020.
- Around 60% of respondents believe that the impact on Occupancy is expected to fall down by 60%, more severe than that of ADR (43% respondents).
- Hoteliers in Hong Kong are overwhelmingly pessimistic about all market segments, expecting poor performance versus H1 2019.
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Gloria Chang is Executive Director of Horwath HTL Hong Kong. Since 1995, Gloria has developed an extensive consultancy base specialised in the hospitality and leisure industry with a specific focus on hotel developments.
Formerly a Senior Consultant with hospitality/real estate and corporate finance consulting practices including PKF Consulting Ltd., Arthur Andersen and PriceWaterhouseCoopers, Gloria was principally responsible for various studies on hotel and real estate property developments in Asia-Pacific.