Aerial drone view of buses trapped amongst anti-government protesters in Tsim Sha Tsui, between The Peninsula hotel (left) and Sheraton Kowloon (right) on 20 October 2019. Photo: May Tse

Hong Kong’s hotel valuations drop, vacancy rates soar, as business travellers and tourists avoid city amid street protests

  • The average room rate at three-star hotels fell 46 per cent to HK$446 (US$57) for the week that ended on October 27, according to data by accommodation platform WebBeds
  • Tourists and duty-free shoppers from mainland China led the exodus, with their number of room nights falling 24 per cent during the week
Topic |   Hong Kong protests

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Aerial drone view of buses trapped amongst anti-government protesters in Tsim Sha Tsui, between The Peninsula hotel (left) and Sheraton Kowloon (right) on 20 October 2019. Photo: May Tse
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Only 215 shops changed hands in Hong Kong last month, down 42 per cent year on year because of the protests, according to Centaline Commercial. Photo: Bloomberg

Hong Kong agencies Centaline, Midland see commercial property agents depart as deals plunge amid protests

  • About 40 people each have either been sacked or have left Centaline Commercial and Midland IC&I
  • Joseph Tsang of JLL says agencies’ business models to blame for departures
Topic |   Hong Kong property

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Only 215 shops changed hands in Hong Kong last month, down 42 per cent year on year because of the protests, according to Centaline Commercial. Photo: Bloomberg
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