LONDON -- STR's preliminary May 2017 data for Hong Kong indicates performance driven by strong demand.

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

  • Supply: +1.9%
  • Demand: +4.8%
  • Occupancy: +2.9% to 83.4%
  • Average daily rate (ADR): +0.9% to HKD1,234.66
  • Revenue per available room (RevPAR): +3.8% to HKD1,029.24

STR analysts highlighted the following events as demand drivers for the market: ProWine Asia (8-11 May); HKTDC, medical devices and supplies fair (16-18 May); and Hofex, food and hospitality show (8-11 May).

In addition, STR analysts note that year-over-year results were helped by a comparison with a weak performance period in 2016.

STR will release actual May 2017 results later this month. The May 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