HK Hyatt Regency Had Single-Digit Occupancy Due To SARS

Associated International Hotels Ltd. said Friday its Hyatt Regency Hotel in Hong Kong had single-digit occupancy rates between April 1 and May 20, due to the impact of SARS.

Last year, the hotel had a 90 per cent occupancy rate during the same period. Associated International said it was too early to gauge the full-year impact of the downturn, which has also affected its food and beverage business, as well as shop rents at the hotel.

Associate International said it and its parent, Tian Teck Land Ltd. , had low gearing levels and they were confident they could meet cash-flow requirements. Tian Teck owns 50.01 per cent of Associated International.