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STR: Preliminary November data for Hong Kong hotels

December 16, 2017 Hotel Trends No Comments Email Email

STR’s preliminary November 2017 data for hotels in Hong Kong indicates significant performance levels. http://www.granmonte.com/

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. 

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