Hong Kong's hotel market reported positive performance in September, according to preliminary results from STR. Occupancy rose 0.5% to 86.6%, ADR increased 4% to 1,366.85 Hong Kong dollars ($175.11) and RevPAR jumped 4.5% to HK$1,184.03 ($151.69).
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.
www.str.com
