LONDON -- STR's preliminary July 2017 data for hotels in Hong Kong indicates strong performance growth.

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

  • Supply: +3.4%
  • Demand: +6.6%
  • Occupancy: +3.1% to 89.1%
  • Average daily rate (ADR): +6.1% to HKD1,213.87
  • Revenue per available room (RevPAR): +9.4% to HKD1,081.14

Following a weak 2016, Hong Kong hotels are benefitting from a recovery in overnight arrivals from Mainland China, according to STR analysts. Statistics from the Hong Kong Tourism Board showed that visitor arrivals from Mainland China increased 2.3% for June year-to-date time period.

STR will release actual July 2017 results later this month.

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