Hotels have been hit hard by the COVID-19 pandemic, dropping from almost full capacity to a single-digit occupancy rate during the first quarter of 2020. Furthermore, the share of domestic demand for lodging grew significantly due to strict border controls on inbound arrivals.
In response to the devastating impact of COVID-19 on inbound arrivals, most hotels operators in Hong Kong have shifted their focus to the domestic market and the demands of locals. For example, the Royal Park Hotel launched a “work from home” package whereby guests can book a superior room at a discounted room rate between 8am-8pm with lunch and a soothing working environment provided.
Like travel flows, lodging in Hong Kong is expected to go through a slow recovery process, with new technology expected to help fuel interest. Oasis Avenue became Hong Kong’s first smart hotel after its renovation in 2019.
Over the forecast period, domestic expenditure is expected to play a more significant role in lodging in Hong Kong. Domestic sales grew significantly between 2019 and 2020 and they are expected to remain strong for the first two years of the forecast period.
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Understand the latest market trends and future growth opportunities for the Lodging industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Lodging research and analysis database.
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