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.

STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.



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