Renovations and spiced-up menus: how Hong Kong businesses are weathering an economic storm

Businesses in Hong Kong are using every trick in the book to navigate rough economic waters and a fresh wave of closures, with some adopting strategies such as carrying out large-scale renovations and tapping into other markets.

Julian Wipper, general manager of the New World Millennium Hong Kong Hotel in Tsim Sha Tsui, said the venue had undergone a five-month renovation of its lounge and cellar to entice locals and tourists alike.

While he stopped short of revealing the cost of the revamp, Wipper said the money was “significant”, with the “state-of-the-art” cellar now carrying more than 1,000 labels of rare and classic vintage wines at competitive prices.

Patrons could drink on the premises or take bottles home, creating “a strong value proposition for both tourists and local wine lovers alike”, he said, adding the hotel wanted to convince residents to stay in the city to dine instead of crossing the border to the mainland for a night out.

As part of its strategy, the hotel planned to host regular wine-related events such as tastings, dinners and classes, while the newly renovated space could become a venue for events ranging from business networking to social gatherings, he said.

“The Lounge and Vin et Vin cellar is our creative answer to the currently challenging [food and beverage] market,” Wipper said.