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Record RevPAR Level for Hotels in Hong Kong

News HVS has published its newest study about the Chinese hotel market, and it contains some very interesting information about the performance of hotels in Hong Kong. According to it, high-end accommodations in this city reached the highest level of RevPAR in the first quarter of 2012 – US$260. This is the best performance of Hong Kong accommodations on record.

It is reported that luxury hotels in Hong Kong have changed their strategy, moving from volume-focused strategy that was valid in 2011 to price-driven strategy. Thus, average occupancy fell a bit, decreasing by 2% to the total of 81%. However, there was still a strong demand for accommodations in the city, so hoteliers were able to increase their rates and apply some quite aggressive yield strategies. This helped the local hoteliers to reach highest record levels during each month of the first quarter of 2012.

March results were very positive. Hoteliers ended this month with the record average rate of US$336. High demand was also driven by Rugby Sevens event that attracted many international visitors. The first quarter features a tremendous increase of 13.6% comparing to the same period of the previous year. If the tendency persists, Hong Kong hoteliers will surely mark 2012 as one of best years in their history.


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