"Hotel costs continue to make up a majority of the overall cost of business travel, and in spite of lower occupancy levels in 2022, advertised room rates [in Hong Kong] did not fall significantly," Lee Quane, ECA International's regional director for Asia, told CNBC.
"This may have been due to demand from local residents, while hotel properties may also have needed to maintain their room rates to cover additional costs associated with maintaining services duringThe report is based on information collected in 2022, from 457 locations in over 190 countries, said ECA International.
"The resulting increase in demand contributed to rises in hotel accommodation costs, while costs associated with other daily essentials ... also increased at a faster rate than other locations in the region," Quane said.
DMT for $515 to $520? Surely you jest. Owsley SetAndSetting BusinessMansTrip