Merlin Swire says virus a blow to retail and hotel operations

Swire Properties Chairman Merlin Swire says the coronavius epidemic is adversely affecting the group's retail investment properties and hotel business in Hong Kong and mainland China.

"Lower rental income is expected from the retail properties and serviced apartments in 2020,'' Swire says.

"Temporary rental subsidies are being provided to retail tenants on a case by case basis. Occupancy and revenue are significantly down at our hotels. Costs will be saved where this can be done without damaging the long-term relationship with tenants and other customers.''