Hong Kong Hotels and Covid-19 impact
By Gloria Chang on April 6, 2020
This sentiment survey, conducted by Horwath HTL Hong Kong, 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.