STR: Hong Kong Hotel Occupancy Drops Amid Protests
STR's preliminary August 2019 data for hotels in Hong Kong indicates all-time low occupancy levels amid ongoing protests in the region.Based on daily data from the month, Hong Kong reported the following in year-over-year comparisons:
SINGAPORE — STR's preliminary August 2019 data for hotels in Hong Kong indicates all-time low occupancy levels amid ongoing protests in the region.
Based on daily data from the month, Hong Kong reported the following in year-over-year comparisons:
- Supply: +1.5%
- Demand: -28.8%
- Occupancy: -29.8% to 63.9%
- Average daily rate (ADR): -21.0% to HKD1,086.16
- Revenue per available room (RevPAR): -44.6% to HKD694.15
The absolute occupancy level is the lowest for any month in STR's Hong Kong historical database. According to Financial Secretary Paul Chan, tourist arrivals to the city fell nearly 40% in August after a roughly 5% decrease in July.
After a prolonged period of overall performance growth, July was the first month that showed the protest impact on hotel performance with the key metrics down across the board: occupancy (-4.2%), ADR (-7.9%) and RevPAR (-11.8%).
In mid-August, STR forecasted a 19.3% RevPAR decrease for Hong Kong for Q3 2019. According to STR analysts, the market experienced 19 consecutive months of RevPAR declines following protests in 2014, and there has not been sufficient time between protest periods for the market to reach pre-2014 levels. Prolonged protests could worsen Q3 performance significantly through final August numbers and softer-than-anticipated September results.
STR will release full August results later this month.
About CoStar Group, Inc.
CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible; STR, a global leader in hospitality data and benchmarking; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.
CoStar Group’s websites attracted over 139 million average monthly unique visitors in the fourth quarter of 2025, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.