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A domestic COVID-19 outbreak is wreaking havoc on the hospitality industry this quarter, and hotels are pressing for a quick bailout rather than the midterm stimulus measures the government has proposed for September.
FDC International Hotels Corp (FDC, 雲品國際) chairman Emile Sheng (盛治仁) told shareholders last week that the group might post a 30 percent slump in revenue this quarter as people cancel room reservations and shun dinning out.
“About 50 percent of consumers are willing to live with the virus, but few sectors can emerge unscathed from business losses of up to 50 percent,” Sheng said, adding that FDC would post