Market Report Hong Kong

Hong Kong Hotels Report 94.3 Percent Occupancy for November 2017

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).

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.

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. For more information, please visit str.com.



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