According to JML Property, the first quarter of this year saw a slowdown in rental rates, which was largely attributable to the city’s decreasing demand for rental property, as some resort hotels and casinos have reduced costs spent on staffing in the face of plummeting gaming revenues. Nevertheless, the territory’s overall demand for budget apartments of MOP15,000 and under still remains high. It is expected that for the upcoming months rental rates will likely still stay constant and stabilized.
January hotel occupancy down 8 percent year-on-year
Hotel occupancy has fallen by 8 percent year-on-year in January, with a total of 803,000 guests recorded checking into hotels and guesthouses, according to the latest data released by the Statistics and Census Service (DSEC). The figures indicate that the number of guests from mainland China has decreased by 2.6% to 533,000, while those from the neighboring SAR tumbled by 31.7% to 76,000. Tourists’ average length of stay stayed stable at 1.4 nights. The average occupancy rate of hotels and guesthouses dropped by 1.5% points year-on-year to 79.4%, with five-star hotels leading at 80.6%, down by 2.5% points.
HK-bound flights divert to Macau, Shenzhen
Strong winds at Hong Kong International Airport led some HK bound flights to divert to nearby cities yesterday, according to the city’s Airport Authority. Between 6 a.m. and 3 p.m., 10 incoming flights were diverted to Macau or Shenzhen because of weather problems. Six flights approaching the airport had to circle above due to the influence of strong winds, the HK Civil Aviation Department said.
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