TravelNewsAsia.com
Thu, 12 Sep 2019

Huge Drop in ADR, OR and RevPAR at Hotels in Hong Kong in August 2019

STR's preliminary August 2019 data for hotels in Hong Kong indicates all-time low occupancy levels amid ongoing and often violent protests in the city.

Based on daily data from the month, hotels in Hong Kong reported the following in year-on-year comparisons:

- Supply: +1.5%
- Demand: -28.8%
- Occupancy: -29.8% to 63.9%
- ADR: -21% to HKD1,086.16
- RevPAR: -44.6% to HKD694.15

The absolute occupancy level is the lowest for any month in STRís Hong Kong historical database.

Hong Kong island from TST. Picture by Steven Howard of TravelNewsAsia.com Click to enlarge.

Hong Kong's Financial Secretary Paul Chan, has said that tourist arrivals to the city fell nearly 40% in August after a roughly 5% decrease in July.

After a prolonged period of overall performance growth, July was the first month that showed some of the protest impact on hotel performance with the key metrics down across the board: occupancy (-4.2%), ADR (-7.9%) and RevPAR (-11.8%).

In mid-August, STR forecast a 19.3% RevPAR decrease for Hong Kong for Q3 2019.

According to STR analysts, the market experienced 19 consecutive months of RevPAR declines following protests in 2014, and there has not been sufficient time between protest periods for the market to reach pre-2014 levels.

Prolonged protests, especially if they grow more violent and target infrastructure such as transport and the airport, could worsen Q3 2019 performance significantly.

Latest HD video interviews and podcasts: Lost Bags and Airline Baggage Tracking - Interview with Peter Drummond, SITA, Future of Airline Distribution and NDC - Interview with Yanik Hoyles, IATA, Airline Distribution - Interview with Rakesh Narayanan of Sabre Travel Solutions, SITA Baggage User Conference 2019 in Bangkok 5-7 November, ATPCO and Routehappy - Interview with Robert Albert at IATA AIR Symposium 2019, IATA Airline Industry Retailing Symposium 2019 - Interview with Stephan Copart, Awesome Trip - Interview with Mark Corbett, Chief Innovation Officer, Vern Insurance Technologies - Interview with Marton Elodi at IATA AIRS 2019Evolution of Airline Chatbots - Interview with Jonathan Newman, CCO of ( caravelo (, Cambodia Airways' Plans for the Future - Interview with Commercial Director, Nine Exclusive HD Video Interviews from Cambodia Travel Mart 2019, How's Business at the Hyatt Regency Bangkok Sukhumvit? Interview with Sammy Carolus, GM and Exclusive Interview with CEO of Vistara TATA SIA Airlines, Mr. Leslie Thng.

See latest HD Video Interviews, Podcasts and other news regarding: Hong Kong, RevPAR, ADR.

Subscribe to our Latest Travel News Daily Email Free of Charge by simply entering your email address to the right. You can also receive the daily news service by WhatsApp, stay updated with our RSS Feed Free Travel News RSS Feed and even add the travel news to your website. Have questions? Please read our travel news FAQ.
     
Advertising
Advertising
Copyright © 1997-2019 TravelNewsAsia.com