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Hong Kong property
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Sino Hotels expects conditions to remain challenging after first-half losses rise amid Covid-19 curbs in Hong Kong

  • The owner of the Conrad Hong Kong saw losses widen by more than a fifth to US$7.1 million for the six months ending December
  • City Garden Hotel reported 100 per cent occupancy from June to December, while Conrad and Royal Pacific Hotel & Towers also saw higher occupancy

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City Garden Hotel, owned by Sino Hotels and located in Hong Kong island’s eastern district of Fortress Hill, had 100 per cent occupancy in the six months to December. Photo: Handout
Cheryl Arcibal
Sino Hotels, controlled by billionaire Robert Ng Chee Siong, said on Thursday that the outlook does not look too bright after its first-half losses widened, as Hong Kong’s zero Covid-19 policy continued to weigh on its bottom line.
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The owner of the Conrad Hong Kong saw losses increase by more than a fifth to HK$55.5 million (US$7.1 million) for the six months ending December from a year ago.

“The hospitality industry continued to be heavily impacted by cross-border travel restrictions and social distancing measures,” Ng said in a statement filed to the Hong Kong stock exchange.

“A meaningful recovery will be dependent on the easing of travel restrictions and resumption of international travel. The group is taking all practicable measures to cope with the challenges.”

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Hong Kong hospitals set up outdoor wards as city buckles under rising coronavirus infections

Hong Kong hospitals set up outdoor wards as city buckles under rising coronavirus infections

Hong Kong’s quarantine restrictions, which are among the strictest in the world, saw visitor arrivals in the six-month period ending December slump to 57,649, a fraction of the 21 million recorded in the same period in 2019 before the coronavirus outbreak.

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