STR: Preliminary May data for Hong Kong hotels
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.
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