Hong Kong hotel room rates surge ahead of Labour Day ‘golden week’ holiday, with prices as much as 5 times higher
- A Post check on room rates for several hotels on travel platform Trip.com finds prices have risen by between 170 and 540 per cent for May 1
- But industry leader says bookings remain below pre-pandemic levels although he expects occupancy rates to reach 90 per cent
Hong Kong hotel room rates have surged by as much as five times in the run-up to the Labour Day “golden week” holiday, the Post has found, even though bookings remain below pre-pandemic levels according to an industry leader.
Federation of Hong Kong Hotel Owners executive director Caspar Tsui Ying-wai, a former government minister, on Monday said he was optimistic that occupancy rates would reach 90 per cent during the holiday starting on May 1 although bookings were not coming in as fast as in 2018 and 2019.
“Bookings for this year’s golden week are slower because mainland Chinese travellers are more indecisive with more destinations to choose from. But still I am confident they can reach 90 per cent in popular areas later this week,” Tsui said.
He said soaring prices were normal because of the increased demand but they were still 10 per cent below 2018 and 2019 figures.
A Post check on room rates for several hotels on travel platform Trip.com found prices had risen by between 170 and 540 per cent for May 1, compared with a week earlier on April 24. .
Four-star hotel iClub To Kwa Wan recorded the highest increase, from HK$693 per night on April 24 to HK$4,459 on May 1 – a 543 per cent rise in prices.
Rates for the four-star Hotel COZi Resort in Tuen Mun rose 215 per cent from HK$577 on Monday night for a superior room to HK$1,818 on Labour Day.
