Why did COYOTE fail or just close, why has it not been snapped up?
By HK Lawyer AJ Halkes Barrister-at-Law
What went on? Why did COYOTE fail or just close? Why has it not been snapped up? Some thoughts as to times, change, and of course the F&B landscape, if you’re interested.
Apologies for a second Coyote photo in quick succession. People have been asking why it failed and why it hasn’t reopened. The bottom line is that, in a Game of Thrones sense, all things must die.
Coyote’s decades-long run was fuelled by US military fleet visits, massive Rugby Sevens traffic, and a few key events like trade shows and exhibitions every year. With those reliable boosts, midweek trade and casual business were almost not essential for survival.
But Hong Kong changed. We no longer have thousands of US servicemen on aircraft carriers visiting. The Rugby Sevens has moved off Hong Kong Island. When it comes to trade fairs, many people source and connect online, making a physical trip to Hong Kong an expensive proposition.
Against those headwinds and with a generous landlord who is willing to take say a turnover rent … what’s the 2025 USP? The reputation Coyote built was as a go-to spot for a certain demographic that has disappeared.
And why hasn’t it reopened with a new tenant? I don’t know. I bet the commercial owner is open to leasing it to someone willing to pay, and I can’t imagine it’s left empty on purpose. Given the number of agent contact posters on the windows, now frayed and faded, it seems there have been attempts.
Out of curiosity, some enquiries about the current asking rent for the space would be interesting, presuming it can be licensed again, and it is building legislation-compliant to operate as an F&B outlet. Old licenses have expired, and that alone is cause for very real caution.
If you need specific input regarding a strategic Hong Kong challenge or related legal matters in the HKSAR, you can always DM me and check out my profile at https://www.ajhalkes.com.
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