Source:
https://scmp.com/news/hong-kong/article/3003913/hong-kong-hotel-industrys-capacity-continue-grow-despite-economic
Hong Kong

Hong Kong hotel industry has capacity to continue to grow despite economic uncertainty and manpower shortage

  • The Hong Kong Hotels Association says 2018 was a record year for the sector, largely driven by visitors from mainland China
  • The opening of several hotels is expected to offset the loss of the Excelsior in Causeway Bay, which closes at the end of the month
The newly opened Rosewood Hong Kong in Tsim Sha Tsui. Photo: Durston Saylor

Supply of hotel beds in Hong Kong will grow by 3 per cent annually in the next three years despite the imminent shutdown of the high-end Excelsior hotel and uncertainty surrounding the city’s tourism sector, according to the Hong Kong Hotels Association.

The industry body said on Friday that 2018 was a record year for the hotel and hospitality sector, while room rates grew by 9 per cent to an average of HK$1,310 per night and occupancy hit 92.05 per cent, compared with 90.74 per cent in 2017.