One of the world’s largest cities, Hong Kong has a wide range of hotels, from budget to five-star luxury, to suit a variety of tastes and budgets. Among the most luxurious, the Mandarin Oriental, Hong Kong offers views of Victoria Harbour and the city’s central commercial district.
Another popular choice is the Rosewood Hong Kong. This hotel offers a world class experience with a fitness centre, ten lounges and standout event spaces. Its 413 rooms and suites are among the finest in the region. Guests can enjoy a spa and a swimming pool, and the hotel also provides an underground tunnel to the airport.
For a more relaxed stay, the HK Peace Guest House offers budget accommodation. It’s located in the Mirador Mansion and is just ten minutes from the Star Ferry. The room is furnished with air-conditioning and a flat-screen television. Rooms also have toiletries and a hairdryer. If you’re travelling with kids, you can book a family room, which has a shared kitchen.
A short walk away is the Shamrock Hotel, which is close to the Australia Dairy Company and the Temple Street Night Market. The YMCA The Salisbury is also located near the Peninsula Hotel. These two three-star hotels offer rooms that can accommodate four people. They also offer free internet access and flat-screen TVs.
Metropark Hotel Causeway Bay is one of the best hotels in the mid-range in Hong Kong. Located in Causeway Bay, this hotel offers a roof top pool with breathtaking harbour views. You can also find live music and a state-of-the-art gym. Some of the hotel’s rooms are decorated in wood furnishings and elegant modern bathrooms.
The Ritz-Carlton, Hong Kong is a five-star hotel that is a short distance from the International Commerce Centre. Guests can also enjoy Michelin-starred dining at the hotel’s many restaurants.
In the first half of 2022, Hong Kong saw five major hotel transactions, bringing the total value of deals in the city to USD 790 million. Most of the transactions were acquired for repositioning as co-living or extended-stay hotels. As a result, the average room rate for the luxury operators in the city was only 10% to 40% of their normal rates. However, despite these mediocre results, the sector as a whole experienced an improvement.
During the first half of 2022, the average room rate in the city was HKD 1,038. Occupancies were in the mid-range, at 75%. Hotels in the city were affected by the ‘Amber Code’, which limits incoming visitors from visiting bars and dining out. While the ban was eased in the second quarter, it is expected that the ban will be removed, allowing tourists and locals to enjoy the city.
Although some hotel operators have experienced mixed results, some have managed staffing levels effectively. Others have suffered due to the restrictions, which have eliminated revenues from F&B and banqueting. Nonetheless, this year, the city is expected to see higher revenue from hotel stays, which will help the hotel sector rebound.