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Hong Kong Lunar New Year bounce boosts restaurants, but 1 owner says he will close outlets because of gloomy economic outlook
- Restaurateurs say Lunar New Year business ‘exceptionally good’, especially for Chinese restaurants
- But Ray Chui, chairman of Kam Lee Holdings, says eight of his 42 restaurants are slated for closure this year because of downturn
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Hong Kong restaurants enjoyed a bonanza over the Lunar New Year holiday thanks to festive events and a drop in the number of people who travelled across the border to eat out and spend.
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But Ray Chui Man-wai, the president of catering body the Institution of Dining Art and chairman of Kam Kee Holdings, which runs 42 restaurants, on Monday said he planned to shut down eight outlets this year because of the uncertain economic outlook.
Michael Leung Chun-wah, the chairman of the Association for Hong Kong Catering Services Management, said business had been exceptionally good, especially for Chinese restaurants, which had a full house after a rush of bookings over the past few days.
“At first we didn’t expect to fare well over the Lunar New Year as before that we had only about 70 per cent to 80 per cent bookings,” he told a radio programme.
“But over the past few days restaurant bookings suddenly surged with many outlets, especially Chinese eateries, getting a full house and very good bookings.
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