Hong Kong's hotels reported occupancy rose 2.6% to 91.8% in March, according to preliminary STR data. ADR increased 13.2% to 1,567.57 Hong Kong dollars ($199.71) and RevPAR jumped 16.1% to HK$1,439.13 ($183.34).
LONDON—STR’s preliminary March 2018 data for hotels in Hong Kong indicates strong performance results.
Based on daily data from March, Hong Kong reported the following in year-over-year comparisons:
- Supply: +2.8%
- Demand: +5.5%
- Occupancy: +2.6% to 91.8%
- Average daily rate (ADR): +13.2% to HKD1,567.57
- Revenue per available room (RevPAR): +16.1% to HKD1,439.13
Performance momentum from last year carried into Q1 for Hong Kong. According to STR analysts, continued strong demand, especially from Mainland China, is generating more near-capacity occupancy nights and driving higher ADR premiums. The absolute occupancy level would be one of the highest for any March in STR’s Hong Kong database. The ADR level is the highest for a March since 2015.
STR will release full March results later this month. The January edition of STR’s Market Forecast and the 2017 Global Hotel Study are now available.
Marketing & Communications
+44 (0)207 922 1979
Director of Marketing, Research & Analysis
+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 email@example.com.