Preview

11Nov2014 Clipbook

Good Essays
Open Document
Open Document
586 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
11Nov2014 Clipbook
文章總數: 1 篇

中國日報香港版 | 2014-05-31
報章 | P01 | Front Page | | By Kahon Chan

Survey: HK hotels among world’s dearest

Lawmaker says figures quoted in survey higher than actual rates
By Kahon Chan in Hong Kong kahon@chinadailyhk.com Hotels in Hong Kong have been ranked the most expensive in the Asia-Pacific region and the sixth dearest in the world, according to a new survey released on Friday.
Between May 1 and May 9 the Bloomberg news agency conducted an online survey of the rates of 10 fivestar, and 50 three-star hotels. The survey covered 106 cities during two periods; August 1-10, 2014, and February 1-10, 2015.
According to information published on hotel booking engine Expedia, the average rate in Hong Kong was
$242 (HK$1,876) a night. This makes it the world’s sixth most expensive city on Bloomberg’s list.
Geneva, Dubai and Kuwait City were the top three.
Shanghai, ranked joint 62nd with Berlin on the global ranking, was the most expensive on the mainland. Its average rate at $145, however, was considerably lower than Hong Kong’s. Shanghai was followed by Beijing at 70th, Shenzhen joint 72nd with Lima, Peru, Hangzhou at 80th and Guangzhou at
92nd.
Hong Kong was also the world’s fifth most expensive city for five-star hotels across the 106 cities surveyed. The average rate was $418 (HK$3,240) per night — considerably higher than $366 in New
York, $338 in Singapore and $230 in Shanghai.
Nikhil Bhalla, a lodging analyst at FBR & Co, told Bloomberg that the cost of real estate and availability of hotel rooms were two key factors in determining rates around the world.
Yiu Si-wing, a lawmaker representing the tourism sector, said the most important factor driving prices was how much guests were able to pay.
Hong Kong had a hotel occupancy rate of 90 percent over the first four months — compared to 87 percent in 2013.
However Yiu, also vice-chairman of China Travel Service, which manages four Metropark hotels in Hong
Kong, disputed the survey’s findings. He said the

You May Also Find These Documents Helpful

  • Good Essays

    Hansa vs Swahili

    • 346 Words
    • 2 Pages

    Sung China was one of the most wealthy cities. (Doc 9) Hansa and its trade…

    • 346 Words
    • 2 Pages
    Good Essays
  • Better Essays

    Shanghai has become the new Hong Kong, while Hong Kong has become the new Tokyo, and Singapore has become a world trade center. Shanghai now contains some of the tallest buildings in Asia. MSCI, which is a provider of stock market indexes, might have Shanghai stocks in their biggest emerging markets (Rapoza). In a prosperity index posted by the Legatum Institute in 2009, the United States ranked as the 9th most prosperous country in the world. This may seem like a great position to be in, but 9th is five spots lower than the year before.…

    • 1242 Words
    • 5 Pages
    Better Essays
  • Best Essays

    Hong Kong has been chosen as the steppingstone into the vast Chinese market as most…

    • 2610 Words
    • 17 Pages
    Best Essays
  • Best Essays

    Cited: Central Intelligence Agency. (2011, February 14). Retrieved February 26, 2011, from The World FactBook: China: https://www.cia.gov/library/publications/the-world-factbook/geos/ch.html…

    • 2216 Words
    • 9 Pages
    Best Essays
  • Powerful Essays

    cost-plus markup in China is in the 60 to 70 percent range (including VAT), compared with…

    • 20224 Words
    • 81 Pages
    Powerful Essays
  • Satisfactory Essays

    Skyview

    • 373 Words
    • 2 Pages

    1. On average, how many rooms must be rented each night in season for the hotel to breakeven?…

    • 373 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Mattel in China

    • 2315 Words
    • 10 Pages

    Shanghai 16.575 million; BEIJING (capital) 15.594 million; Chongqing 9.401 million; Shenzhen 9.005 million; Guangzhou 8.884 million (2011)…

    • 2315 Words
    • 10 Pages
    Better Essays
  • Powerful Essays

    Hotel Development Cost

    • 2980 Words
    • 12 Pages

    HVS has tracked hotel construction costs throughout the United States since 1976. The survey considers data for six lodging types: Economy/Budget Hotels, Midscale Hotels w/o F&B (without Food and Beverage), Extended-Stay Hotels, Midscale Hotels w/ F&B (with Food and Beverage), Full-Service Hotels, and Luxury Hotels and Independent Resorts. The 2009/10 hotel development survey reports updated per-room development costs for through the end of 2010. Each year HVS Consulting and Valuation researches development costs from our database of actual hotel construction budgets, industry reports, and uniform franchise offering circulars. These sources provide the basis for our range of component cost per room. New project construction cost data collected each year may increase the range and/or impact the mean and median of the construction cost components. The upper and lower ends of the ranges are adjusted by changes in construction cost components derived from published sources and information from architects, contractors, developers, lenders, and other professionals involved with hotel development projects. This year’s development cost survey reflects actual ranges of development costs in each category. The survey is not meant to be a comparative tool to calculate changes from year to year but represents the true costs of building hotels across the United States. As with previous years’ data, the data represent a wide variety of geographical locations from tertiary markets in the Southwest to mid-Manhattan. The development costs of the same hotel product, say a select-service Fairfield Inn or Holiday Inn Express, can be more than triple the amount from one locale to the other.…

    • 2980 Words
    • 12 Pages
    Powerful Essays
  • Satisfactory Essays

    Google Books

    • 321 Words
    • 2 Pages

    3) International & Affluent Mature – Name two out of the top three influencers that consistently show up in both segments. In your mind why will an International or Affluent traveler recommend a Hotel over another?…

    • 321 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Shangri-La Hotels

    • 1629 Words
    • 7 Pages

    My analysis supports the recommendation that Shangri-La hotels have the required resources, expertise and efficiencies to successfully expand into these markets even with the tight labor markets and vast cultural differences…

    • 1629 Words
    • 7 Pages
    Powerful Essays
  • Powerful Essays

    * HKTDC (Hong Kong Trade Development Council) Report (1994). Trade and Investment Opportunities in Vietnam, September, pp. 9-13.…

    • 2295 Words
    • 10 Pages
    Powerful Essays
  • Good Essays

    Hotel Competitors

    • 576 Words
    • 3 Pages

    When looking for competitors of hotels, there are many different things to consider, like price, amenities, the history of the hotel, star rating, and more. I mainly focused on price amenities and the history of the hotels. To start The Grand Hotel was the cheapest of the all the hotels which is nice if you are trying to save a few dollars but still stay in a very nice place. The Grand Hotel was anywhere from 130-190 a night. The Depot was the second cheapest at a price that can vary from 150-200 a night depending on the days you stay and the rooms you’re in. this was also the case for the Graves 601 hotel. The Graves hotel was a little bit more from 170-220 a night. The same with the “W” the Foshay tower, prices were anywhere from 170-209. So all the hotels are very similar in price.…

    • 576 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Peninsula Hotel is the world's most luxurious and most famous hotels in Hong Kong. Underground shopping malls are mostly brand-name stores. The Peninsula was selected as the world's top ten well-known hotel, was admitted to the celebrities, including former U.S. President Richard Nixon, star Qile Ji Bao, NBA star Michael Jordan and so on, the Queen Elizabeth II has appointed stay. Peninsula Hotel Rolls-Royce is the world's largest fleet of Rolls-Royce fleet. The top floor of hotel with a heliport, these facilitate the direct use of helicopters important guests from Hong Kong International Airport, or swim over Hong Kong.…

    • 607 Words
    • 3 Pages
    Good Essays
  • Good Essays

    for the same set of guests, as well as the same set of potential employees. They are both budget hotels, right next door to each other, with 60 guest rooms each and a view of the beach.…

    • 869 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Hong Kong, including standard of living, promotion methods, and the reasons why students attending tutorial class.…

    • 454 Words
    • 2 Pages
    Satisfactory Essays