13 Oct 2017
LONDON Despite a supply growth of 3.1% in rooms, Hong Kong hotels enjoyed their first RevPAR increase for the month of September since 2013.
RevPAR, or revenue per available room, grew 4.5% to HKD1,84.03 for Hong Kong’s hotels.
STR issued what it calls preliminary data for September, Wednesday, that showed hotels in Hong Kong have seen rate-driven performance growth.
Based on daily data from September, Hong Kong reported an increase in room supply of 3.1% and booking demand grew by 3.6%
Hotel occupancy improved by a marginal 0.5% to 86.6%
Average daily rate improved by 4.0% to HKD1,366.85
STR said that despite notable supply growth, this was Hong Kong’s first RevPAR increase for a September since 2013.