Virus Fallout in Asia Was Significant: Mandarin Oriental Hotel Group CEO

The transcript discusses the impact of the virus on global hotel operations, particularly in Asia and Europe. It covers occupancy rates, future impacts, and recovery expectations. Preparations for the Tokyo Olympics are detailed, along with the company's development projects and asset light strategy. The outlook for luxury travel remains optimistic despite current challenges.

What was the initial impact of the virus on the hotel industry in Asia?

• No impact at all

• Increased operations due to higher demand

• Significant impact with reduced operations

• Minimal impact with steady operations

How did the occupancy rates in China, Hong Kong, and Macau change during the virus outbreak?

• Doubled compared to previous years

• Remained stable

• Increased significantly

• Dropped to single digits or half of expected levels

What percentage of total revenue is generated from Hong Kong and Macau?

• 10%

• 60%

• 25%

• 40%

What measures were implemented in preparation for the Tokyo Olympics?

• Temperature checks and cleanliness procedures

• Increased marketing campaigns

• Discounted room rates

• Hiring additional staff

How many new hotel projects are under development globally?

• 25

• 20

• 15

• 10

What is the primary focus for future growth in the hotel industry?

• Reducing the number of hotels

• Increasing room rates

• Focusing on management contracts

• Acquiring new properties

What is the outlook for luxury travel despite the virus impact?

• It is expected to decline

• It will remain stagnant

• It is a rapidly growing area of business

• It will be phased out