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STR: Preliminary May data for Hong Kong hotels

June 13, 2017 Hotel Trends No Comments Email Email

STR’s preliminary May 2017 data for Hong Kong indicates performance driven by strong demand.  http://www.rembrandtbkk.com/

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

  • Supply: +1.9%
  • Demand: +4.8%
  • Occupancy: +2.9% to 83.4%
  • Average daily rate (ADR): +0.9% to HKD1,234.66
  • Revenue per available room (RevPAR): +3.8% to HKD1,029.24

STR analysts highlighted the following events as demand drivers for the market: ProWine Asia (8-11 May); HKTDC, medical devices and supplies fair (16-18 May); and Hofex, food and hospitality show (8-11 May).

In addition, STR analysts note that year-over-year results were helped by a comparison with a weak performance period in 2016.

STR will release actual May 2017 results later this month. The May edition of STR’s Market Forecast is now available.

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