Caspar Tsui Ying-wai, executive director of the Federation of Hong Kong Hotel Owners and a former government minister, said hotels close to events, such as those in Wan Chai near the venue for Art Basel, were likely to be fully booked.
“Hotel occupancy rates in other areas might be boosted, too,” he added. “If the hotels are in a popular area, the occupancy rate could be up to 90 per cent.
“If they are a little further, they might still achieve 85 per cent.”
Tsui said the recurring nature of many of the events had created a following that would bring high-spending visitors to Hong Kong, which would boost the hotel trade and the wider tourism industry.
“It is almost certain they will be staying overnight, and most typically between three nights to a week,” Tsui added.
Art Basel, Asia’s biggest art fair, will bring 243 galleries to Hong Kong from around the world this year,…
