Passengers arrive at Hong Kong International Airport to be transported to designated quarantine hotels in this file photo from June 30, 2021. The latest setback could potentially convince more hotel owners to consider converting properties for uses such as serviced flats and residential buildings. "We see the Hong Kong hotel market's recovery falling behind that of Macau, Singapore and Taiwan," said Govinda Singh, executive director, valuation and advisory services, Asia at Colliers. Currently, Hong Kong hotels are wholly dependent on the local market and have launched various promotions to attract "staycations". And although the outlook for the hotels segment remains bleak, local hotels are likely to survive in the coming months.

Source: Bangkok Post August 18, 2021 08:26 UTC