LONDON -- STR's preliminary March 2017 data for Hong Kong indicates performance driven by significant demand growth.

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

  • Supply: +1.1%
  • Demand: +8.3%
  • Occupancy: +7.1% to 89.8%
  • Average daily rate (ADR): +1.8% to HKD1,406.54
  • Revenue per available room (RevPAR): +9.0% to HKD1,262.77

The year-over-year increase in RevPAR was the highest for any month in Hong Kong since February 2012. Demand can be attributed to a number of special events, specifically Art Basel Hong Kong (20-26 March) and Hong Kong International Jewellery Show (2-6 March).

STR analysts also believe the Hong Kong hotel market is beginning to show signs of performance recovery with consecutive months of RevPAR growth at levels not seen in the market since 2012.

STR will release actual March 2017 results later this month. The February edition of STR's Market Forecast is now available.

About STR

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.

Alex Anstett
Media & Communications Coordinator - STR
STR