ITC Properties Group sold the 94-room Le Petit Rosedale Hotel in Causeway Bay for HK$460 million, about a third below the original asking price. Photo: FacebookITC Properties Group sold the 94-room Le Petit Rosedale Hotel in Causeway Bay for HK$460 million, about a third below the original asking price. Photo: Facebook
ITC Properties Group sold the 94-room Le Petit Rosedale Hotel in Causeway Bay for HK$460 million, about a third below the original asking price. Photo: Facebook
Business

Hong Kong’s hotel investment market reels from coronavirus, protests, with prices tumbling and landlords suing

  • Only one hotel property has changed hands successfully, albeit at a steep discount, so far this year compared with seven in the first eight months of 2019
  • ‘Why should they buy? They cannot collect rent and would lose money every day,’ says Francis Li of Cushman & Wakefield

Topic |   Hong Kong property
Lam Ka-sing
Lam Ka-sing

Updated: 8:41am, 9 Sep, 2020

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ITC Properties Group sold the 94-room Le Petit Rosedale Hotel in Causeway Bay for HK$460 million, about a third below the original asking price. Photo: FacebookITC Properties Group sold the 94-room Le Petit Rosedale Hotel in Causeway Bay for HK$460 million, about a third below the original asking price. Photo: Facebook
ITC Properties Group sold the 94-room Le Petit Rosedale Hotel in Causeway Bay for HK$460 million, about a third below the original asking price. Photo: Facebook
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