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China luxury hotels hit by downturn, swine flu: report
Beijing (AFP) June 29, 2009 Luxury hotels in Beijing have been forced to lay off staff and cut costs as the number of guests has plummeted due to the economic crisis and the swine flu outbreak, state media said Monday. The average occupancy rate at the capital's star-rated hotels was 44.5 percent during the first quarter of the year, down from 54.6 percent in the same period a year ago, the China Daily said, citing official figures. Some hotels even saw the level slump to just three percent, the paper said, citing anecdotal evidence. "It's slash and burn," said an expat chef at one five-star hotel in Beijing, who was recently asked to resign or face being sacked. "During the Olympics, rooms were going for 6,000 to 7000 yuan (875 dollars to 1,020 dollars) a night. Now they are going for 550 yuan," said the chef. The paper quoted a manager at the Holiday Inn Lido Beijing as saying the hotel had received "a double blow." Earlier in the year, businesspeople stopped coming due to the economic downturn, and in May the first case of swine flu or A(H1N1) was detected in Beijing, causing the number of tourists to fall. Share This Article With Planet Earth
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Hong Kong yet to emerge from financial crisis: chief executiveHong Kong (AFP) June 28, 2009 Hong Kong has still to emerge from the effects of the global economic slowdown despite early signs of returning stability, the city's chief executive Donald Tsang said Sunday. Tsang said that big challenges remained for the city, whose key industries of finance and exports have been hit hard by the crisis. "There is no doubt we have yet to emerge from the impact of the financial tsunami ... read more |
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