LONDON -- STR's preliminary March 2018 data for hotels in Hong Kong indicates strong performance results.

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

  • Supply: +2.8%
  • Demand: +5.5%
  • Occupancy: +2.6% to 91.8%
  • Average daily rate (ADR): +13.2% to HKD1,567.57
  • Revenue per available room (RevPAR): +16.1% to HKD1,439.13

Performance momentum from last year carried into Q1 for Hong Kong. According to STR analysts, continued strong demand, especially from Mainland China, is generating more near-capacity occupancy nights and driving higher ADR premiums. The absolute occupancy level would be one of the highest for any March in STR's Hong Kong database. The ADR level is the highest for a March since 2015.

STR will release full March results later this month. The January edition of STR's Market Forecast and the 2017 Global Hotel Study are 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