Market Report Hong Kong

Hong Kong Hotels Report 2.9 Percent Occupancy Growth for May 2017

Preliminary May data for Hong Kong's hotels show the market saw a 2.9% occupancy increase to 83.4%, while ADR increased 0.9% to 1,234.66 Hong Kong dollars ($158.36) and RevPAR rose 3.8% to HK$1,029.24 ($132.01).

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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