Hotel owners are facing the grim prospect of their revenues being halved as conferences and exhibitions have either been cancelled or postponed and tourists are choosing to staying away from Hong Kong amid escalating social unrest.The hotel segment will bear the brunt of the impact, says S&P Global Ratings.“Hotel owners are facing a 50 per cent drop in revenues, given August’s occupancy rate fell to 66 per cent and could further drop,” the ratings agency said in a recently released report.In…
Source : South China Morning Post
Read more…Hotel revenues could halve, warns S&P, as conference participants, tourists give protest-hit Hong Kong a miss















