Hong Kong hotels enjoy revenue growth

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LONDON, 12 October 2017: Despite a supply growth of 3.1% in rooms, Hong Kong hotels enjoyed their first  RevPAR increase for the month of September since 2013.

RevPAR, or revenue per available room, grew 4.5% to HKD1,84.03  for Hong Kong’s hotels.

STR issued what it calls  preliminary data for September, Wednesday,  that showed hotels in Hong Kong have seen rate-driven performance growth.

Based on daily data from September, Hong Kong reported an increase in room supply of 3.1% and booking demand grew by 3.6%

Hotel occupancy improved by a marginal 0.5% to 86.6%

Average daily rate  improved by 4.0% to HKD1,366.85

STR said that despite notable supply growth, this was Hong Kong’s first RevPAR increase for a September since 2013.

Statistics from the Hong Kong Tourism Board show that arrivals from Mainland China increased 1.9% for the August year-to-date time period.

STR will release full September 2017 results later this month.