{"id":99430,"date":"2018-10-09T17:01:42","date_gmt":"2018-10-09T10:01:42","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hotel-stays-in-hong-kong-to-cost-more-as-excelsiors-closure-will-tighten-supply-by-nearly-1000-rooms\/"},"modified":"2018-10-09T18:04:29","modified_gmt":"2018-10-09T11:04:29","slug":"hotel-stays-in-hong-kong-to-cost-more-as-excelsiors-closure-will-tighten-supply-by-nearly-1000-rooms","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hotel-stays-in-hong-kong-to-cost-more-as-excelsiors-closure-will-tighten-supply-by-nearly-1000-rooms\/","title":{"rendered":"Hotel stays in Hong Kong to cost more as Excelsior\u2019s closure will tighten supply by nearly 1,000 rooms"},"content":{"rendered":"


\nVisitors to Hong Kong could end up paying more for hotels as the closure of the iconic Excelsior Hotel next March and rising tourist arrivals are expected to drive up occupancy and room rates in Asia\u2019s fastest growing market.
\nOverall hotel occupancy in Wan Chai and Causeway Bay will immediately surge by at least 6 per cent, and 2.1 per cent on Hong Kong Island, said Hannah Jeong, senior director of valuation and advisory in Asia at Colliers.
\n\u201cAs the 869-room Excelsior contributes 7….
\n
\nSource : South China Morning Post
\nRead more…Hotel stays in Hong Kong to cost more as Excelsior\u2019s closure will tighten supply by nearly 1,000 rooms<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Visitors to Hong Kong could end up paying more for hotels as the closure of...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-99430","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-pRI","jetpack-related-posts":[{"id":111046,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-hoteliers-issue-sos-as-plunging-rates-touch-us9-a-night-and-occupancy-hits-20-per-cent-amid-protests\/","url_meta":{"origin":99430,"position":0},"title":"Hong Kong hoteliers issue SOS as plunging rates touch US$9 a night and occupancy hits 20 per cent amid protests","date":"September 25, 2019","format":false,"excerpt":"\r Hong Kong hotel operators have called on the government to waive rents and even allow properties to offer empty rooms on long-term leases, or for sale, as a way of survival amid a steep decline in occupancy and rates brought on by 16 weeks of protests in the city.At\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":104511,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mandarin-oriental-foresees-reduced-profits-from-closure-of-excelsior-as-iconic-hotel-goes-for-redevelopment\/","url_meta":{"origin":99430,"position":1},"title":"Mandarin Oriental foresees reduced profits from closure of Excelsior as iconic hotel goes for redevelopment","date":"February 28, 2019","format":false,"excerpt":"\r Mandarin Oriental International, owner of the iconic waterfront Excelsior hotel, reported a 19 per cent rise in underlying profits last year bolstered by strong performance at its Hong Kong properties.But the luxury hotel chain operator admitted that the closure of the Excelsior would largely dent its profits this year,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118383,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sino-hotels-which-runs-the-conrad-hong-kong-posts-loss-as-occupancy-rate-falls-to-a-third-amid-coronavirus\/","url_meta":{"origin":99430,"position":2},"title":"Sino Hotels, which runs the Conrad Hong Kong, posts loss as occupancy rate falls to a third amid coronavirus","date":"August 26, 2020","format":false,"excerpt":"\r Billionaire Robert Ng Chee Siong said his hotels saw their occupancy rates fall to as low as a third as Hong Kong\u2019s hotel industry was hit by a huge drop in tourist arrivals amid the outbreak of Covid-19.Average occupancy rates at the tycoon\u2019s Sino Hotels (Holdings), which operates three\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111564,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hotel-revenues-could-halve-warns-sp-as-conference-participants-tourists-give-protest-hit-hong-kong-a-miss\/","url_meta":{"origin":99430,"position":3},"title":"Hotel revenues could halve, warns S&P, as conference participants, tourists give protest-hit Hong Kong a miss","date":"October 14, 2019","format":false,"excerpt":"\r 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.\u201cHotel\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":159387,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-the-peninsula-hong-kong-aims-to-stay-competitive-amid-shenzhen-rivalry\/","url_meta":{"origin":99430,"position":4},"title":"How The Peninsula Hong Kong aims to stay competitive amid Shenzhen rivalry","date":"August 17, 2025","format":false,"excerpt":"\r The Peninsula Hong Kong is focusing on luxury retail, fine dining and high-end services to attract both local and international guests amid a surge in new hotel openings in the city and competing lodging options in neighbouring Shenzhen. The Peninsula saw its occupancy rise by double digits year on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":105617,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rent-at-office-tower-redeveloped-on-the-excelsiors-site-may-be-the-highest-in-causeway-bay-amid-shortage-of-commercial-space\/","url_meta":{"origin":99430,"position":5},"title":"Rent at office tower redeveloped on The Excelsior\u2019s site may be the highest in Causeway Bay amid shortage of commercial space","date":"March 31, 2019","format":false,"excerpt":"\r The office tower to rise from where The Excelsior hotel stands on the foreshore of Hong Kong\u2019s Causeway Bay may command the highest rent in the district by the time its redevelopment is completed in 2025, barring a catastrophic economic meltdown in Hong Kong.The site, known as Lot One,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/99430"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=99430"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/99430\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=99430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=99430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=99430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}