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
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Hong Kong protests
Protests have ravaged Hong Kong for more than four months, deterring tourists and inflicting huge pain on the hotel sector. Photo: AFP
Chinese artist Sanyu’s Leopard oil on canvas on display at a previous Sotheby’s auction in Hong Kong. This year his painting, Nu, sold for HK$198 million. Photo: Nora Tam
Auction house Sotheby’s raises over US$400 million in sixth straight sale as phone, online bids offset drop in visitors amid protests
- The percentage of phone bidding and online bidding grew by 17 per cent and 44 per cent respectively, said Kevin Ching, CEO of Sotheby’s Asia
- New York-headquartered Sotheby’s sold 3,423 lots in 20 auctions over five days at the Hong Kong Convention & Exhibition Centre, it said on Wednesday
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Auctions
Chinese artist Sanyu’s Leopard oil on canvas on display at a previous Sotheby’s auction in Hong Kong. This year his painting, Nu, sold for HK$198 million. Photo: Nora Tam