Hong Kong’s revenue per available room (RevPAR) grew 8.7 percent year-to-August (YTD) to HKD1,520.61, supported by buoyant occupancy levels that remained well above the 80-percent mark, according to STR Global, the leading provider of market information to the hotel industry.
This RevPAR performance resulted from the highest occupancy and average daily rates (ADR) achieved for a January-to-August period since 2000. This is good news for hoteliers, particularly in the current economic environment, as more and more indicators point to a slowing of GDP growth globally and in China.“Hong Kong, as a financial centre and hub for conferences and events, is a strategic gateway for conducting business with China and the rest of the world”, said Elizabeth Randall Winkle, managing director at STR Global. “Hoteliers in Hong Kong have benefited from continuous annual demand growth since 2010, helping to reach the highest performance levels since 2000.
Whilst economic activities are expected to remain challenging during the rest of 2012 and into 2013 in China and globally, we expect to see, according to our latest forecast, occupancy to level off around the 84-percent mark until the end of 2013, and ADR growth to slow slightly to 3.6 percent.”en savoir plus