Hong Kong retail, tourism benefit from sports events, festivals, group says
Sino Group executives said Hong Kong's tourism and retail sectors have benefited from the government's event economy, with mainland visitor numbers rising about 30 per cent year-on-year during Mid-Autumn and National Day holidays. Hotel occupancy exceeded 80 per cent during the Golden Week.
Sino Group finance president and co-managing director Chow Sing-man said on 27 October that tourist arrivals in Hong Kong have risen this year, helped by international sports events, concerts, financial forums and exhibitions. Mainland visitor numbers during the Mid-Autumn Festival and National Day holidays increased about 30 per cent compared with the same period last year, while non-mainland visitors also showed good growth, she said.
Overnight visitors are also gradually increasing, Chow said, with all hotels under the group reporting occupancy rates above 80 per cent during the National Day Golden Week. To attract more overnight guests, she said the hotel business has introduced concert packages, travel guides and mystery boxes, and will continue to improve service quality according to the needs of different markets and age groups.
Chief commercial officer Cai Bilin said Hong Kong's retail sector is developing steadily, benefiting from the government's event economy, such as the Halloween month. The "sports economy" has also boosted sales of related merchandise, with foot traffic at the group's shopping malls rising, he said. Cai expressed confidence that the momentum would continue into next year.
Asked about the possibility of developing student dormitories, Cai said the group has studied converting existing properties for a year, but found the costs and vacancy periods during renovation were not ideal for stakeholders. Bidding for new land would also require consideration of whether it could enhance value for shareholders, he added.