Property News · May 1, 2020

Hong Kong misery forces luxury hoteliers to delay 1,000-odd new rooms with market at disastrous levels due to coronavirus and anti-government protests


Hong Kong’s luxury hotel owners have postponed plans to add more than 1,000 new rooms to a “disastrous” market still reeling from an economic slump caused by months of social unrest and the coronavirus outbreak.CK Asset Holdings has deferred the opening of its 840-room Hotel Alexandra in Fortress Hill to a later date while a consortium of Hong Kong’s biggest developers has pushed back the 206-room The Silveri Hong Kong MGallery in Tung Chung by at least six months.The decision reflects…

Source : South China Morning Post
Read more…Hong Kong misery forces luxury hoteliers to delay 1,000-odd new rooms with market at disastrous levels due to coronavirus and anti-government protests

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