The Lunar New Year is an important festival for family reunions, and many people take their families out for meals. Leung Chun-wah, the chairman of the Association for Hong Kong Catering Services Management, stated today (Jan. 30) on a radio program that the market conditions for Chinese restaurants during the Lunar New Year are favorable, with business revenue and reservation rates increasing by 10%.
Leung pointed out that the Lunar New Year is a significant traditional festival for Chinese people. Although some citizens travel abroad, those who stay in Hong Kong tend to dine out. For family customers, the average spending is around HK$350 to HK$400, similar to last year. As for corporate reunion dinners, the reservation rate has also increased by 10% to 15%, with an average spending of about HK$400 to HK$500.
Leung noted that compared to pre-pandemic levels, consumption is still behind, as customers are not as "generous" with their orders as before. Due to rising prices for ingredients during the Lunar New Year, restaurants have adjusted their prices, but considering the current economic situation, they are cautious about significant increases, generally keeping it below 5%.
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