Property News · December 16, 2019

Sun Hung Kai Properties, Hong Kong’s largest developer, says situation ‘Sars-like’ with hotels revenue down by 50 per cent


Sun Hung Kai Properties, Hong Kong’s biggest developer by value, said revenue at its hotels division had plummeted by up to half in November and December, as the city’s tourism industry struggled to stay afloat amid seven months of anti-government protests and the US-China trade war.Revenue per available room dropped in these two months by 40 per cent to 50 per cent year on year, Adam Kwok, the company’s executive director, said on the sidelines of the launch of Alva Hotel by Royal in Sha Tin…

Source : South China Morning Post
Read more…Sun Hung Kai Properties, Hong Kong’s largest developer, says situation ‘Sars-like’ with hotels revenue down by 50 per cent

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