What’s buzzing for business events in Hong Kong

Hong Kong’s tourist arrivals have steadily trended up since the border re-opened with Mainland China in January 2023. July visitors topped three million for the first time in three years, and hotel occupancy and room rates are climbing at US$481.60 per night at the premium end as of July 2023.

“When travel restrictions were lifted, we promptly saw a huge resurgence of offline events with in-person attendees,” said Balwin Yeung, group director global sales at Wharf Hotels. “Corporate meeting planners were quick to book live format events, which showed most people were ready to abandon online/hybrid events. Planners are also willing to pay a premium for their preferred venue and/or date.”

High demand from the banking sector

The banking and finance sector is leading the way for MICE events, and for the immediate term. Currently, source markets are primarily the Greater Bay Area (GBA) and mainland China.

The Mandarin Oriental Hong Kong is gearing up for a busy Q4 2023, the traditional convention season for finance. “The Greater Bay Area development is bringing ample opportunities to Hong Kong's inbound travel, helped by our ideal location in the beating heart of Hong Kong,” said Irene Tan, director of commercial strategy, sales at Mandarin Oriental, Hong Kong.

“In terms of international conventions, given the travel ban was lifted in Singapore a lot earlier than Hong Kong, we can see that some opportunities were lost to neighbouring cities, but we are hopeful that Hong Kong resumes as the hub of Asia with more conventions and larger events set to take place later in the year.”

Strong growth from China

At the Sheraton Hong Kong Tung Chung and Four Points by Sheraton Hong Kong Tung Chung, which opened in 2020, business from China is climbing. “Specifically, we’re seeing a solid growth in the meeting and incentives segment. Hong Kong is technically still in the recovery phase as airlift to the city has yet to fully (rebound). We’re pacing exceptionally well given the circumstances,” said Kevin Lam, director of sales and marketing.

With Hong Kong being late to the re-opening game, and in the position of having to re-win MICE business, there is an uncharacteristic amount of hotel space available. Lead times have contracted but can demand more flexibility on the part of the venue.

“We have noticed that the group size tends to be medium-sized – usually between 20 and 50 rooms – with a short lead time of two to three months. The leads mostly come from the Asia Pacific region,” said MOHK’s Tan, a trend she thinks could continue into 2025. While in-person meetings are rising, virtual meetings remain popular for participants or speakers who may require long-haul flights.

Lam said that Sheraton Hong Kong Tung Chung is attracting large groups on short notice. The hotel’s proximity to the GBA, the airport, the Hong Kong-Zhuhai-Macao Bridge, and AsiaWorld-Expo are major selling points as it simplifies organisation and streamlines logistics.

Wharf Hotels is also welcoming large groups. “We’ve noted that group sizes have increased post-pandemic and we are regularly hosting large events for 200+ participants,” said Yeung. “Revenge travel is providing a welcome boost to the MICE industry and there is a sharp rebound for in-person meetings/events. Our clients are eager for their staff to get more face-time with each other and with their business partners.” Among Wharf’s MICE clients in 2023 are insurers AXA and Chubb.

Bringing events outside of hotel walls

Hotels are also moving beyond the confines of their properties to market unique attractions as well.

“More and more hotels and meeting organisers are partnering with external companies/vendors to create unique experiences that will surprise attendees,” said Yeung. “A successful MICE event depends on three factors: people, the venue and content. As there is more flexibility with the latter, organisers will want to deliver experiences that participants are unable to experience elsewhere.”

MOHK’s Tan said that the hotel’s location in the heart of the financial district near the renovated Central Market, Peak Tram and primary dining precinct, is a big selling point for large groups to hold meetings in the hotel. Guests can also visit new museums and the hotel is also within steps from the newly renovated Central Harbour Front.

“Guests today tend to plan a trip with multiple reasons in mind, and things they want to achieve and do,” added Lam, citing the rise of so-called bleisure travel. “They may even combine meeting with shopping or, in our case, include a visit to Disneyland, Ngong Ping 360 and nearby attractions. In essence, we are helping guests create a memorable experience around our community.”