STR: Preliminary November data for Hong Kong hotels
 
STR: Preliminary November data for Hong Kong hotels
13 DECEMBER 2017 8:36 AM

Hong Kong's hotel market reported occupancy rose 1.4% to 94.3% in November, according to preliminary monthly data from STR. ADR increased 5.6% to 1,603.28 Hong Kong dollars ($205.39) and RevPAR jumped 7.1% to HK$1,511.50 ($193.63).

LONDON—STR’s preliminary November 2017 data for hotels in Hong Kong indicates significant performance levels.

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

  • Supply: +3.1%
  • Demand: +4.5%
  • Occupancy: +1.4% to 94.3%
  • Average daily rate (ADR): +5.6% to HKD1,603.28
  • Revenue per available room (RevPAR): +7.1% to HKD1,511.50

The absolute occupancy level would be the highest for any month on record in Hong Kong. Additionally, the ADR increase was the first for a November in Hong Kong since 2011. According to STR analysts, strong inbound tourism, as well as MICE events, such as Cosmoprof Asia 2017 (14 – 16 November 2017), pushed demand.

STR will release full November 2017 results later this month.

Media Contacts:

Alex Anstett
Media & Communications Coordinator
aanstett@str.com
+44 (0)207 922 1979

Naureen Ahmed
Director of Marketing, Research & Analysis
media@str.com
+44 (0)207 922 1965

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