Hong Kong Hotels are Bouncing Back

(Source: Quanjing)

STR's preliminary November 2017 data for hotels in Hong Kong indicates significant performance levels.

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

STR noted the absolute occupancy level is 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, pushed demand.