2019年9月27日 星期五

Hong Kong Hotels Slash Prices As Protests Deter Tourists: Cheapest Room Now Just $9

You may get hurt or arrested, when you are in the fighting area ! 


The local people will go North to Mainland to celebrate the Independent day of China !


www.zerohedge.com

Hong Kong was until very recently the world's most expensive housing market, featuring sky-high rents and cramped apartments as small as 100 square feet. But thanks to the pro-democracy protests that have disrupted the city-state's economy and ushered in a new wave of political uncertainty and chaos, many of Hong Kong's most critical industries have seen serious disruptions, especially tourism.

Earlier this month, Hong Kong's financial secretary revealed that tourism had plunged more than 40%  during the month of August, compared with August 2018, the biggest drop since the SARS epidemic of 2003.

As visitors dry up, hotels are being forced to slash rates to try and attract clientele. And some of these cuts have gotten pretty steep.

For example, a "new low" for a hotel booking has been spotted by the South China Morning Post: HK71 - or about $9. 

At that price, living in that hotel would be less expensive than one of the city's subdivided apartments.
At a new low of HK$71 (US$9.06) a night, some hotels are now cheaper than subdivided flats in the city. Winland 800 Hotel in protest-hit Tsing Yi, is offering that rate on weekdays through the Wing On Travel website. It represents a decline of 65.7 per cent from its lowest rate of HK$207 a night in March 2018.
In response, hoteliers and other business owners in the hospitality and tourism industry are asking the Hong Kong government for help in the form of rent and bank-loan interest waivers, arguing that their industries have been the hardest hit by the demonstrations. The city's Housing Authority has already cut rent for the city's retail tenants in public housing, while HSBC offered rebates on loans from small and medium-sized companies in the city that have been struggling because of the protests.

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