Courtesy: Nelson Moura | News Source: macaubusiness.com

The Director and Co-Founder of Stelliers, formerly known as The Hoteliers Awards, said today that 2019 was a very challenging year for the hotel sector.

“I think the main changes after 10 to 15 years of non-stop growth in all markets. Sure the hoteliers had to work hard to gain market share as we increased revenue year after year but this year is the first time where the market shrinks and the pie is smaller,” Stephane de Montgros said today before the awards event.

“It goes without saying but beyond Hong Kong, Shenzhen, Beijing, and all these cities, it has been a tough year. For a lot of young hoteliers they have always worked in an environment of non-stop growing and it is the first time they have to step back a little bit and think about how to maintain the room rates”

The Stelliers Greater China 2019 Awards Ceremony will take place today at the Four Seasons Macau, with the hotel award event returning to Macau since 2017 and with its Director revealing the organization aims to maintain the event in the city for 2020.