STR: Preliminary May data for Hong Kong hotels
 
STR: Preliminary May data for Hong Kong hotels
14 JUNE 2018 7:55 AM

Based on preliminary May data from STR, Hong Kong's hotels saw occupancy increase 2.2% to 84.8% during the month. ADR increased 9.2% to 2,336.05 Hong Kong dollars ($297.67) and RevPAR rose 11.6% to HK$1,133.61 ($144.45).

LONDON—STR’s preliminary May 2018 data for hotels in Hong Kong indicates strong performance results.

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

• Supply: +0.9%
• Demand: +3.1%
• Occupancy: +2.2% to 84.8%
• Average daily rate (ADR): +9.2% to HKD2,336.05
• Revenue per available room (RevPAR): +11.6% to HKD1,133.61

Growth in demand (room nights sold) continued to drive performance in Hong Kong. May was the fourth consecutive month with a double-digit RevPAR jump.

STR analysts note that the returning volume of inbound arrivals from Mainland China, combined with limited supply growth, creates a favorable short- to mid-term outlook for Hong Kong hotel performance.

STR will release full May results later this month. The May edition of STR’s Market Forecast is available now for Hong Kong and a host of other markets across the globe.

Media Contacts:

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

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

The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editor-in-Chief Stephanie Ricca at sricca@hotelnewsnow.com.

No Comments

Comments that include blatant advertisements or links to products or company websites will be removed to avoid instances of spam. Also, comments that include profanity, lewdness, personal attacks, solicitations or advertising, or other similarly inappropriate or offensive comments or material will be removed from the site. You are fully responsible for the content you post. The opinions expressed in comments do not necessarily reflect the opinions of Hotel News Now or its parent company, STR and its affiliated companies. Please report any violations to our editorial staff.