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STR: Preliminary September data for Hong Kong and Sydney hotels

Theodore Koumelis - 13 October 2017, 00:01

The preliminary September 2017 data for hotels in Sydney, Australia, indicates rate-driven performance growth.

LONDON - STR's preliminary September 2017 data for hotels in Hong Kong indicates rate-driven performance growth.

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

  • Supply: +3.1%
  • Demand: +3.6%
  • Occupancy: +0.5% to 86.6%
  • Average daily rate (ADR): +4.0% to HKD1,366.85
  • Revenue per available room (RevPAR): +4.5% to HKD1,184.03

Despite notable supply growth, this was Hong Kong's first RevPAR increase for a September since 2013. Statistics from the Hong Kong Tourism Board show that arrivals from Mainland China increased 1.9% for the August year-to-date time period.

The preliminary September 2017 data for hotels in Sydney, Australia, indicates rate-driven performance growth.

Based on daily data from September, Sydney reported the following in year-over-year comparisons:

  • Supply: +2.3%
  • Demand: +0.5%
  • Occupancy: -1.7% to 84.5%
  • Average daily rate (ADR): +4.9% to AUD215.72
  • Revenue per available room (RevPAR): +3.1% to AUD182.29

Despite a decline in occupancy due to year-over-year supply growth, this was Sydney's second-highest September RevPAR level on record, behind only the month of the 2000 Summer Olympics. STR analysts note that Sydney hotels posted their steepest occupancy declines on weekends, indicating that leisure business was most affected by the increase in supply.

STR will release full September 2017 results later this month.




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