Hotels in Hong Kong are being transformed into residential developments to satisfy housing demand as the pandemic-hit tourism industry shows no signs of recovery.
Property developers and the government are both looking to repurpose hotels in the city, where apartments are in short supply.
Tycoon Victor Li’s CK Asset Holdings Ltd. is leading the trend, with plans to convert two of its properties.
https://www.bloomberg.com/news/articles/2021-03-04/hong-kong-turns-empty-hotels-into-apartments-as-tourists-vanish