Hong Kong’s hotel industry is expected to remain strong – despite tough competition from hotels elsewhere in Asia – including Macau, a vice-president of a hotel investment consultancy said.Chee Hok-yean, the executive vice president of Jones Lang Lasalle – a company specialising in real estate investment services – said the accessibility of Hong Kong appealed to visitors. This was an advantage to the Hong Kong hotel industry.
"People will still come to Hong Kong to get to Macau because basically, the accessibility to Macau directly is not able to meet with the number of arrivals," Ms Chee said during an interview on RTHK’s Radio 3.
Recent industry statistics show large numbers of visitor arrivals and business demand in Hong Kong.
According to the Hong Kong Tourism board, Hong Kong saw a 6.3 per cent year-on-year rise in number of the number of visitors to the city. Some 12 million visitors came to Hong Kong during the first five months of the year. That is a 9.5 per cent increase compared with a year before.
The demand for hotel services is increasing. In May, 58.4 per cent of visitors stayed in the city for at least one night.
Ms Chee said although there were more internationally branded hotels established in Macau this year, Hong Kong still has its attraction because it has a wider range of hardware and facilities – which appeal to different types of visitors with a variety of needs.
What they have on offer “in Macau is mainly entertainment and gambling, whereas for Hong Kong, it is lot more varied for businesses and Hong Kong has other attractions like Disneyland and Ocean Park”, she said.
She also expected the room rates in Hong Kong would increase on average by 5 per cent next year.
The latest research on the Hong Kong and Macau hotel sector conducted by Jones Lang Lasalle, revealed that until April 2008, room rates of five-star hotels in Hong Kong continued to soar relative to the same period last year.
It also pointed out that despite the total net addition of around 8,000 rooms and strong double-digit growth in room rates over the past two years, hotels in Hong Kong consistently achieved high average occupancy levels in excess of 80 per cent in 2005 and 2006.
Meanwhile, the hotel industry in Macau is growing as many international investors invest in the Macau market. These include the establishment of the Sands Hotel in 2004, Wynn Hotel in 2006 and Venetian Hotel in 2007.
"People will still come to Hong Kong to get to Macau because basically, the accessibility to Macau directly is not able to meet with the number of arrivals," Ms Chee said during an interview on RTHK’s Radio 3.
Recent industry statistics show large numbers of visitor arrivals and business demand in Hong Kong.
According to the Hong Kong Tourism board, Hong Kong saw a 6.3 per cent year-on-year rise in number of the number of visitors to the city. Some 12 million visitors came to Hong Kong during the first five months of the year. That is a 9.5 per cent increase compared with a year before.
The demand for hotel services is increasing. In May, 58.4 per cent of visitors stayed in the city for at least one night.
Ms Chee said although there were more internationally branded hotels established in Macau this year, Hong Kong still has its attraction because it has a wider range of hardware and facilities – which appeal to different types of visitors with a variety of needs.
What they have on offer “in Macau is mainly entertainment and gambling, whereas for Hong Kong, it is lot more varied for businesses and Hong Kong has other attractions like Disneyland and Ocean Park”, she said.
She also expected the room rates in Hong Kong would increase on average by 5 per cent next year.
The latest research on the Hong Kong and Macau hotel sector conducted by Jones Lang Lasalle, revealed that until April 2008, room rates of five-star hotels in Hong Kong continued to soar relative to the same period last year.
It also pointed out that despite the total net addition of around 8,000 rooms and strong double-digit growth in room rates over the past two years, hotels in Hong Kong consistently achieved high average occupancy levels in excess of 80 per cent in 2005 and 2006.
Meanwhile, the hotel industry in Macau is growing as many international investors invest in the Macau market. These include the establishment of the Sands Hotel in 2004, Wynn Hotel in 2006 and Venetian Hotel in 2007.
SCMP
Hilda Wong 7:08pm, Jul 24, 2008
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