Redevelopment plan for five-star Hong Kong hotel divides opinion
Property owner submits application to clear site for 22-storey office tower
Opinions are sharply divided over whether it makes sense to tear down and redevelop the eight-year-old Crowne Plaza hotel in Causeway Bay into a commercial complex as local residents express concern the move will further clog roads in the teeming Hong Kong district.
Property investment firm SEA Holdings, which is listed on the Hong Kong stock exchange and owns the property, recently applied to the Town Planning Board to demolish the 29-storey, five-star hotel with 263 rooms to build a 22-storey office tower with restaurants and shops.
Property consultants and some hotel staff questioned whether redevelopment made sense amid a property boom and given the building’s relatively young age. Local residents expressed concern the move would exacerbate traffic congestion and strain local infrastructure.
A source at the hotel said he was disappointed the owner was seeking to demolish the building. He said its occupancy rate hovered between 80 and 90 per cent and that it was sometimes full.
“The management contract with the InterContinental Hotels Group has two more years to run, but the redevelopment first has to be approved by the Town Planning Board,” he said. The group is responsible for managing the hotel. Its 10-year term expires in 2019.