Customers sit in restaurants at Quayside Isle in Sentosa Cove, Singapore. The city state’s hotel property market saw two major deals in the third quarter. Photo: Roy Issa

With Hong Kong’s hotel sector in the doldrums, investors zero in on new-found favourite Singapore

  • Kimberley Hotel in Tsim Sha Tsui was sold for HK$4.3 billion, 28 per cent lower than the asking price of HK$6 billion, market observers said.
  • Hotel transactions in Singapore surged by 545 per cent quarter on quarter to S$2.8 billion in the three months to September
Topic |   Hong Kong property

TOP PICKS

Customers sit in restaurants at Quayside Isle in Sentosa Cove, Singapore. The city state’s hotel property market saw two major deals in the third quarter. Photo: Roy Issa
READ FULL ARTICLE
Protests have ravaged Hong Kong for more than four months, deterring tourists and inflicting huge pain on the hotel sector. Photo: AFP

Hotel revenues could halve, warns S&P, as conference participants, tourists give protest-hit Hong Kong a miss

  • The rates hotels offer to host meetings, conferences and exhibitions are down by more than a quarter as events are cancelled or postponed
  • In some cases, occupancy of hotels in protest-hit areas has fallen to 20 per cent, according to hoteliers and industry observers
Topic |   Hong Kong protests

TOP PICKS

Protests have ravaged Hong Kong for more than four months, deterring tourists and inflicting huge pain on the hotel sector. Photo: AFP
READ FULL ARTICLE