Hong Kong Hotels Report 86.6 Percent Occupancy for September 2017

2017-10-12 Tag: STR Hong Kong Hotels China

STR,Hong Kong Hotels,China,Hong Kong Hotels Report 86.6 Percent Occupancy for September 2017

STR’s preliminary September 2017 data for hotels in Hong Kong indicates rate-driven performance growth.?

Based on daily data from September, Hong Kong reported the following in year-over-year comparisons:

Supply: +3.1%

Demand: +3.6%

Occupancy: +0.5% to 86.6%

Average daily rate (ADR): +4.0% to HKD1,366.85

Revenue per available room (RevPAR): +4.5% to HKD1,184.03

Despite notable supply growth, this was Hong Kong’s first RevPAR increase for a September since 2013. Statistics from the Hong Kong Tourism Board show that arrivals from Mainland China increased 1.9% for the August year-to-date time period.

STR will release full September 2017 results later this month.

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.