This sentiment survey, conducted by Horwath HTL Hong Kong, was specially designed to examine the impact of the COVID-19 pandemic on the outlook for the Hong Kong hotel market. In addition, the overall Hong Kong hotel market performance in 2019 was included to review the impact of the social campaign to the industry. The survey was open from 6th – 20th March, and received 58 responses from our valuable hotel partners, with the following key takeaways:
- Over 90% respondents expect that the impact of COVID-19 will last for 3 months and more till H2 2020.
- Around 60% of respondents believe that the impact on Occupancy is expected to fall down by 60%, more severe than that of ADR (43% respondents).
- Hoteliers in Hong Kong are overwhelmingly pessimistic about all market segments, expecting poor performance versus H1 2019.
About Horwath HTL
Horwath HTL is the world”s largest hospitality consulting brand with 45 offices across the world providing expert local knowledge. Since 1915 we have been providing impartial, specialist advice to our clients and are recognized as the founders of the Uniform System of Accounts which subsequently has become the industry standard for hospitality accounting. We focus one hundred percent on hotels, tourism and leisure consulting and have successfully completed over 16,000 projects. If you have any questions, please contact James Chappell, Global Business Director at [email protected].