Allan Zeman, who chairs the Lan Kwai Fong Group, told RTHK that he was pleasantly surprised to learn that bar receipts picked up over the holiday.
“I would say that it was up about 15 percent, in some cases 20 percent, depending on some of the different bars,” he said.
“I was very pleasantly surprised. Because I was definitely expecting a 20 to 30 percent drop.”
He also noted a change in the tenant mix, saying more eateries are now serving Chinese cuisine to cater to the growing number of mainland customers.
But the Federation of Restaurants and Related Trades painted a grim picture, saying business citywide fell by around 30 percent.
President Simon Wong said the large number of people leaving the SAR definitely had an impact.
“Most restaurant business being hurt are those middle- and high-class restaurants because a lot of people who are willing to pay for their meals, they would rather spend their time outside of Hong Kong, especially to some Southeast Asian countries and also to the mainland.”
James Robertson, who owns half a dozen bars and restaurants across the city, revealed that business was down 25 percent compared to a year ago.
“No business can survive a 25 percent drop in sales. That just isn’t possible,” he said.
“Generally speaking, the landlords are not that sympathetic because they’ve got their own issues about valuation and property valuations and rentals that they need.
“But we can’t survive. You can’t have landlords demanding the same rent in a market that’s down 25 to 30 percent. It doesn’t deserve that kind of rent.”
There is still hope on the horizon, Wong said, pointing to the Labour Day “golden week” holiday which starts next week. He expects a 15 percent boost in business across the catering sector.
He expects more mainland tourists to visit the SAR during the five days of public holiday, including those from Shenzhen who can apply for multi-entry visas.
