Hong Kong Hotel Rooms Are 25% Cheaper As Protests Cool Tourism
- Hyatt saw room revenue drop 50% as mainland guests pulled back
- Tourism suffered as Hong Kong economy plunged into recession
The Conrad Hotel, owned by Hilton Worldwide Holdings Inc., in the Admiralty district of Hong Kong, China, on Wednesday, Aug. 29, 2019.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
The Hong Kong protests are crushing hotel demand, pushing room rates down.
The average daily rate for a room was HK$1,079 ($137.68) in September, 25% lower than a year ago, according to lodging data provider STR.