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 focused one hundred percent on hospitality, tourism, and leisure consulting. Our services cover every aspect of hotel real estate investment, tourism, and leisure development. Our clients choose Horwath HTL because we have earned a reputation for impartial advice that will often mean the difference between failure and success. Each client project is unique, and they rely on us to utilize the experience we have gained throughout our 100-year history to assist them in achieving their goals. Being a global firm with 52 offices in 40 countries, we have successfully carried out over 40,000 assignments for both public and private clients. As part of the Crowe Global network, a top-ten accounting, and financial services network, Horwath HTL is the number one choice for companies and financial institutions looking to invest and develop in the industry.

For more information, please visit www.horwathhtl.com.

Stephanie Henley
Horwath

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