July 23, 2020

Demand for hotels in Hong Kong has collapsed amid a standstill in regional travel owing to tight visa restrictions, significantly reduced air traffic and risk aversion by travellers – adding to pressure on a market already impacted by local sociopolitical unrest over the course of 2019.

While June saw some signs of optimism following the re-opening of theme parks and discussions about creating travel bubbles with other regional markets to facilitate business and leisure travel, a resurgence in new cases in early July has dented expectations of a quick rebound.

The road to recovery is therefore likely to be a long one. However, Hong Kong’s relative success in containing the virus so far, combined with its long-established reputation as one of Asia’s top travel destinations, can provide a solid foundation for its revival.

This ViewPoint by CBRE assesses the impact of the COVID-19 pandemic on Hong Kong’s hotel market; examines the government’s response in the way of support and incentives; and provides an outlook for what was, and hopefully will return to being, one of the world’s most dynamic hospitality and tourism markets.


Click Here to view the full report.


Contact


 

Robert McIntosh
Executive Director, Valuation & Advisory 
+61 449 587 023
[email protected]

Edmond Wong
Executive, Valuation & Advisory 
+852 9345 0600
[email protected]