Facing possible ruin amid a new norm of social distancing, some of Hong Kong’s co-living operators have been turning underused hotel rooms into shared units with longer leases.
With more luxury brands exiting and more mid-priced brands moving in, Hong Kong’s prime retail streets have undergone the most significant reshuffling of tenant mix in recent history.
Some opportunistic landlords have capitalised on a down cycle in the co-working space sector, and have responded proactively to exits by major operators such as WeWork by operating the spaces themselves.