Hong Kong luxury hoteliers to delay 1,000-odd new rooms in market at disastrous levels due to pandemic and protests

Hong Kong’s luxury hotel owners have postponed plans to add more than 1,000 new rooms to a “disastrous” market still reeling from an economic slump caused by months of social unrest and the coronavirus outbreak.CK Asset Holdings has deferred the opening of its 840-room Hotel Alexandra in Fortress Hill to a later date while a consortium of Hong Kong’s biggest developers has pushed back the 206-room The Silveri Hong Kong MGallery in Tung Chung by at least six months.The decision reflects…

from South China Morning Post https://bit.ly/35m2pwi