Global companies are feeling the strain of Hong Kong’s protests with international hotel chains and major airlines bracing for more pain as the global financial hub descends into its worst political crisis in decades.
Hong Kong’s flagship carrier Cathay Pacific said protests had hit inbound traffic. International hotel brands including Marriott, Wynn and InterContinental Hotels are preparing for business in Hong Kong to suffer in the second half of the year because of the demonstrations and the US-China trade war.
“We are a Hong Kong business and, like all businesses based here, we are feeling the impact of the local political unrest. We have most recently seen a fall off [in] future bookings over the next few months, particularly for inbound travel to Hong Kong,” said John Slosar, chairman of Cathay Pacific.