Hong Kong opt to bowl against unchanged India

Hong Kong's F&B sector saw a record number of leases for new floor space in the second quarter of 2021, with 155,000 sq ft registered, CBRE reported. This is more than double the amount signed in the first quarter. Analysts attribute the increase to a selective and narrow-based retail recovery, which is pushing brands and retailers to innovate and offer unique experiences to attract customers.

Lawrence Wan, executive director at CBRE, noted that F&B operators are enhancing their offerings by incorporating live performances, native staff, traditional games, and vintage furniture to create immersive experiences. JLL reported that innovative restaurants in Hong Kong include Le Petit Chef, The Magic Table, and Dans le Noir? at Le Meridien Hong Kong, which uses immersive technology and serves meals in complete darkness.

The Magistracy Dining Room and The Grand Buffet, with its revolving feature, also utilize unique settings as part of the dining experience. Michelle Chiu, director of retail at JLL, observed that competition has intensified within Hong Kong and from Shenzhen, leading operators to invest in experiential dining concepts like projection-mapped shows and sensory-led experiences.

However, she warned that these concepts may attract customers initially, but consistently good food, service, and value are crucial for long-term success.