STR: Preliminary March data for Hong Kong hotels
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.
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