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).
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.
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.