Hong Kong market resilient
I was about to relocate to Hong Kong when the SARS epidemic hit Asia. It was 2003, and I did not have much of a sense of the city, having only been there a couple of times prior. One of my strongest memories is walking to our office in the morning rush hour, among thousands of people shoulder-to-shoulder, all wearing a face mask. It was a weird experience that did nothing to allay nerves about my imminent move. This time marked the scariest period faced by the Hong Kong hotel market in recent history. Occupancy performance across the market dropped to below 20 percent and in many cases to single digits.