Hong Kong’s hotel industry is struggling after recent political developments in the country. Following the events, after thousands of protesters shut down the Hong Kong airport hotels have had a collapse in bookings.
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Why the Hong Kong prices took a dive
It is estimated that revenue from room sales is set to drop as much as 50% this month, according to Yiu Si-wing, a Hong Kong lawmaker representing the tourism industry. He said that visits from mainland China that usually account for 80% of arrivals are down most as people fear for their safety.
“The impact on tourism is huge, half of the mainland visitors due in August are likely to cancel or defer their plans,” Yiu Si-wing said in a press statement
Yiu Si-wing also pointed out events such as a reported attack by protesters on a man suspected of being a security agent from the nearby city of Shenzhen as one of the factors for people’s hesitation to come to Hong kong.
The protests, which have been going on since June, entered a new phase this week with one of Asia’s busiest airports shut down, forcing the cancellation of hundreds of flights. Demonstrators who initially protested a bill allowing extradition to mainland China now have a lot of demands including the resignation of Hong Kong leader Carrie Lam.
Hotel prices are cheaper than ever
Some of the more high-end hotels like the Ritz-Carlton and St. Regis are not sub coming to the lack of guests. They are keeping their prices as usual and waiting out the protest.
Most other hotel brands are dropping down their prices in hopes to attract more customers, however. Some rooms are even 40% cheaper than two months before which is a serious hit to the hotels in question, but is it better than not dropping prices down at all?
Here are some rates you can expect at the moment in Hong Kong
IHG Honk Kong
These prices will probably be only temporary until the protests are resolved. Will you use the opportunity to travel to Hong Kong while the prices are down?