Hong Kong accommodations facing overcapacity

Hong Kong hotels are facing a serious problem of overcapacity that is prone to become more extreme over the coming years, in respect to Henry Tsai in the School of Hotel and Tourism Managing. Tsai is definitely co-researcher of the recently published research paper that noted, although there is consistently high demand to get hotels in the city; require forecasts suggest a significant deficiency in probably booking as compared with the rooms available. The failing to apply strategies to improve this situation, the paper suggests, will decrease the profitability of Hong Kong's hotels, and significantly enhance their operational risks. Hong Kong's hotels at the moment face several challenges and opportunities. The paper's experts point to " the fast growth of alternatives both in Macau and Guangdong province” as one of these issues. For example , the amount of star-rated hotels in Guangdong has increased for a price of 12-15. 2% per year over the past decade, presenting more and more fierce competition for Hk. At the same time, nevertheless , policies such as the introduction of the Individual Visitor Structure for mainland Chinese vacationers in 2003 and the expected completion of the Hong Kong-Zhuhai-Macau Bridge in 2015-16 should certainly increase the traffic from mainland China. This, the experts note, will " help facilitate monetary activity and tourism expansion in Hk. ” It is predicted Hk will have practically 70, 500 hotel rooms in 2013, a growth of more than 17% over four years. However despite that enhance, the research workers noted the occupancy rate " has not shown an identical promising way up trend” and has remained comparatively steady in around 85% over the past 10 years. Hence, it was important to determine whether Hong Kong is likely to deal with the problems of over- or perhaps under-capacity in the coming years. The researchers hope the different findings inside their paper is going to prompt resort industry stakeholders into carefully re-examining all their development programs, both at this point and...

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