STR’s preliminary May 2017 data for Hong Kong indicates performance driven by strong demand.
Based on daily data from May, Hong Kong reported the following in year-over-year comparisons:
- Supply: +1.9%
- Demand: +4.8%
- Occupancy: +2.9% to 83.4%
- Average daily rate (ADR): +0.9% to HKD1,234.66
- Revenue per available room (RevPAR): +3.8% to HKD1,029.24
STR analysts highlighted the following events as demand drivers for the market: ProWine Asia (8-11 May); HKTDC, medical devices and supplies fair (16-18 May); and Hofex, food and hospitality show (8-11 May).
In addition, STR analysts note that year-over-year results were helped by a comparison with a weak performance period in 2016.
STR will release actual May 2017 results later this month. The May edition of STR’s Market Forecast is now available.
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