|
‘Better placed than most’ |
|
|
By Michael Hoare
“As well as being a convenient MICE venue, we expect to be popular with overseas guests. We are a true definition of an urban oasis.”
Mr Robert Hamer
Hyatt Regency Hong Kong, Sha Tin
general manager
|
Model of The Upper House: the Swire Hotels property is on target for an October launch
|
After a buoyant start to last year and a soft second half, Hong Kong’s hotels seem better placed than most to ride out a recession.
While no one is saying it will be easy for the industry, many hoteliers believe increased demand from mainland Chinese tourists and a comparatively rosy economic outlook for East Asia will spare Hong Kong from the carnage under way overseas.
InterContinental Grand Stanford Hong Kong general manager, Mr Peter Pollmeier, is optimistic his Kowloon location will continue to see strong demand from mainland Chinese tourists. “If there’s a place to be to ride out the storm, it would have to be Hong Kong,” he told TTGmice.
The official outlook for the territory is a reduction of about 1.6 per cent in tourism arrivals this year, down from a record breaking 29.5 million last year.
The Hong Kong Tourism Board (HKTB) is forecasting a 4.1 per cent increase from mainland tourists, with
a decrease of 9.2 per cent from other source markets.
Figures released on May 6 had total arrivals in the first quarter of this year up slightly on the same stage last year, at 1.8 per cent.
Mr James Tien, chairman of HKTB, said: “Our tourism industry has got off to a positive start in the first quarter, driven by the growth of mainland arrivals. Notwithstanding the slight gain, the tourism outlook remains highly volatile, given the continued impact of the financial crisis and the threat of the swine flu.”
Occupancy remained relatively high in the first quarter at 82 per cent, four percentage points lower than the same time last year. Inventory is still a longer-term problem. As hotel analyst, Mr Eric Wong, told The South China Morning Post last year: “Have you seen any world cities that have an average occupancy in five-star hotels that hovers consistently at 80 per cent? Hong Kong is one of the very few.”
At the same time, the hotel room pipeline has grown steadily to meet demand. Room supply increased by around 9.3 per cent in 139 hotels to 51,506 rooms by the end of 2007. By the end of last year, there were 149 hotel-grade properties with more than 54,800 rooms.
By the end of this year, HKTB estimates there will be 173 hotels supplying 60,258 rooms and by 2010, 195 hotels with a total inventory of 63,878 rooms – a 14 per cent increase within two years taking into account the credit crisis. One of the new properties that have opened on schedule this year is Hyatt Regency Hong Kong, Sha Tin, with 567 rooms, suites and apartments. When Hyatt Regency Hong Kong, Tsim Sha Tsui, opens later this year, Hyatt will have three properties in Hong Kong.
“Our unique location – seemingly ‘away-from-it-all’ but actually only 20 minutes from Central – is a huge advantage,” general manager, Mr Robert Hamer, said. “As well as being a convenient MICE venue, we expect to be popular with overseas guests. We are a true definition of an urban oasis.”
On target for an October launch is Swire Hotels’ The Upper House in the Admiralty district. The name describes the upward journey from Queensway into Justice Drive and up into the hotel, located on the 38th to 49th floors of Pacific Place.
The 117-key property, which includes 21 Upper Suites and two penthouses, will be in understated, elegant style, according to Swire Hotels director of sales and marketing,
Mr Benjamin Banh.
Swire is catering to the leisure and business markets, with large rooms with a minimum size of 68m2. It will also have an outdoor lawn on the sixth floor and a sky lounge on the 49th floor as signature venues.
|
