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Border openings and vaccine passes essential for hotel recovery, says CEO of luxury hotel group

Sumary of Border openings and vaccine passes essential for hotel recovery, says CEO of luxury hotel group:

  • Easing border restrictions and introducing vaccine passes will be essential to help revive the hard-hit hotel industry, says the CEO of Hongkong and Shanghai Hotels Clement Kwok…
  • His comments come after the company, which owns and runs a slew of luxury hotels, reported a net loss of $250 million for 2020…
  • Kwok told CNBC the group has reopened its luxury Peninsula Hotel brand in all locations, except for New York, but continues to operate at 20%-40% capacity…
  • Currently, the group whose flagship hotel is in Hong Kong, has been largely dependent on local business, promoting a series of staycations and experience packages…
  • Coup halts Yangon development In Southeast Asia, the military coup in Myanmar, which has resulted in weeks of bloody protests, has brought a halt to the construction of a planned new Peninsula property in the main city of Yangon….

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