HONG KONG: International funds and local investors are snapping up hotels in Hong Kong with the intention of converting them for long-term leasing and student accommodation as the outlook for the city's tourism industry remains uncertain.
In the past, hotel owners were reluctant to offer their properties for sale as millions of international travellers poured in every year. But many changed their minds as the 2019 anti-government protests and the ensuing Covid-19 pandemic brought the industry to its knees.
