A Rosy Start to Hong Kong's Summer

The month of May saw Hong Kong's hotel performance grow significantly year-on-year, indicating a welcome increase in demand.

STR's marketplace insights show that supply grew 1.9% in May 2016, with demand jumping 4.8%.

Occupancy levels were healthy at 83.4%, which is a 2.9% increase on last year.

And while the average daily rate was up 0.9% to US$158.28 (HK$1,234.66), RevPAR surged 3.8%, settling on US$131.94 (HK$1,029.24).

While analysts have cited the weak performance in 2016 as helping 2017 statistics, STR notes that key events have helped drive the market, including ProWine Asia, HKTDC (medical devices and supplies fair) and Hofex (food and hospitality), which all fell in May this year.