Investor appetite for hotel assets increased in Hong Kong and the wider Asia-Pacific region in the first half of the year as consumers showed growing eagerness to travel and constrained supply supported property values, according to CBRE. The region netted US$8 billion of investment in the period, up 21 per cent from a year earlier,…
When Cathay Pacific Airways announced direct flights to Almaty starting next January, the significance went beyond adding another destination. The service will be Cathay Pacific’s first to Central Asia and the only non-stop passenger connection between Hong Kong and Kazakhstan. Another announcement pointed to Hong Kong’s growing aviation reach from a different direction. Qatar Airways…
Hong Kong flag carrier Cathay Pacific Airways will raise fuel surcharges by up to 41 per cent on most passenger flights from August, citing escalating tensions in the Middle East. The airline said on Friday that the higher passenger and cargo fuel surcharges would take effect on August 1, following a brief period of declines…
Hong Kong’s short-haul visitor arrivals plunged by 15 per cent in June despite an overall growth in traffic, as higher fuel costs linked to the Middle East conflict reduced flight capacity and weaker regional currencies dampened travel demand, tourism authorities have said. The Hong Kong Tourism Board said on Thursday that the city received 3.72…
United States carrier Delta Air Lines has resumed direct flights to the city after the pandemic, launching a daily service to Los Angeles amid surging fuel prices. Jeff Moomaw, the airline’s vice-president for Asia-Pacific, said on Monday that it would take some time to increase services connecting the city to more destinations as the carrier…
Budget carrier HK Express will cut its fuel surcharge on flights departing Hong Kong to overseas destinations by 12.8 per cent from May 16, reducing the fee by HK$50 (US$6.38) to HK$339 per leg, the airline has said. The reduction, revealed on its website on Wednesday, excludes mainland China routes, and follows lower fuel prices…
Fewer than 5 per cent of Hong Kong flights have been cancelled for May and June combined, and about 1 per cent during the peak July travel period, the Airport Authority has said, despite a global fuel crisis triggered by the Middle East war, adding it would review charges to ease the industry’s burden. Responding…
Cathay Group also said on Friday that it aimed to restore all flights after June. The company earlier announced it was cutting the number of Cathay Pacific flights by 2 per cent and HK Express services by 6 per cent between mid-May and the end of June. The group attributed the passenger growth to a…
Activity in Hong Kong’s ultra-luxury residential market is picking up, with Swire Properties selling two homes in Deep Water Bay for a whopping HK$2.2 billion (US$283 million). The two three-storey units at 6 Deep Water Bay Road had saleable areas of about 9,600 sq ft and 5,300 sq ft, with the transactions set to be…
A top executive of a multinational logistics group has bought a luxury flat in Hong Kong’s Mid-Levels West for HK$132 million (US$16.9 million), adding to a growing list of wealthy buyers acquiring high-end homes as prices soften. Cherry Hill Investment, an entity linked to Arnold Lee, acquired the 2,772 sq ft, four-bedroom apartment at The…