STR: Preliminary May data for Hong Kong hotels
LONDON -- STR's preliminary May 2018 data for hotels in Hong Kong indicates strong performance results.
Based on daily data from May, Hong Kong reported the following in year-over-year comparisons:
- Supply: +0.9%
- Demand: +3.1%
- Occupancy: +2.2% to 84.8%
- Average daily rate (ADR): +9.2% to HKD2,336.05
- Revenue per available room (RevPAR): +11.6% to HKD1,133.61
Growth in demand (room nights sold) continued to drive performance in Hong Kong. May was the fourth consecutive month with a double-digit RevPAR jump.
STR analysts note that the returning volume of inbound arrivals from Mainland China, combined with limited supply growth, creates a favorable short- to mid-term outlook for Hong Kong hotel performance.
STR will release full May results later this month. The May edition of STR's Market Forecast is available now for Hong Kong and a host of other markets across the globe.
Media & Communications Coordinator - STR
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. 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. For more information, please visit str.com.