Hong Kong Hotels Slash Rates

The South China Morning Post painted a picture in Hong Kong of hotels slashing rates to fill rooms now that quarantine stays are gone. SCMP said hotels are trying to get guests away from serviced apartments and the leasing market. Despite some positive steps, most believe the only way for the hotels to do well will be to reopen the border with the mainland and a 0+0 policy. So far serviced apartments and residential operators are taking this in stride, realizing that hotels are empty now that the need for quarantine hotels is gone. While the changes have been made, the article said very few business travelers and tourists have returned.

Accor announced the signing of a management agreement for a new dual-branded hotel in Thailand’s capital. Mercure & ibis Bangkok Siam Ratchathewi is slated to open in 2025. The dual-branded hotel will be part of a vertical mixed-use development including offices and retail spaces. Strategically located at the Ratchathewi intersection, the hotel is in an area near the city’s most loved shopping complexes and the Airport Rail Link to Suvarnabhumi International Airport. This will be Accor’s third dual-branded hotel concept in Thailand. The Mercure hotel will comprise 200 rooms while the ibis hotel will have 154 rooms. An array of shared public areas includes a restaurant, lobby bar and lounge, pool bar, swimming pool, gym, Kid’s club and t