Restaurants glum amid drop in spending
Catering sector representatives have raised concerns about the trade's outlook citing factors such as a weak economy and Hongkongers travelling and spending elsewhere. Some also said people who venture out for meals on Lunar New Year's Eve could be counting their pennies. Ray Chui, president of the Institute of Dining Professionals, said the first round of bookings at his restaurants are full for Friday night, while the second round is only half-full. "The number of reservations is lower than last year. This may be because this year market sentiment is weaker. It's also affected by Hongkongers travelling abroad and to the mainland," he told an RTHK programme. Chui also said diners in general choose the cheapest set meals on offer.  "The economy is not good and purchasing power is also weak," he said. Yeung Wai-sing, chairman of the Association for Hong Kong Catering Services Management, said he expects overall turnover on Lunar New Year's Eve to be higher than a year ago. But he also said he's not optimistic with the outlook for the sector, given that more Hongkongers are travelling north and mainland visitors are spending less during their stay here. Yeung said he's not ruling out that six to seven percent of restaurants in Hong Kong would close or change hands after the holiday. Meanwhile, a restaurant operator in Shenzhen said half the guests who have made reservations for Friday are from Hong Kong, adding that he believes they're attracted by the lower prices.