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HK Snaps Asia-Pacific Highest Hotel Occupancy Rate
Hong Kong's hotels enjoy the highest occupancy rates in the Asia Pacific region, the English-language daily South China Morning Post reported Saturday.
The report quoted a survey by PricewaterhouseCoopers as showing that 84 percent of Hong Kong's hotels were occupied in the first nine months of this year and daily room rates achieved healthy growth of 8.5 percent compared with the same period last year to earn US$103.11 each.
Revenue per available room in Hong Kong hotels, which takes into account the occupancy and room rate, saw an average growth of 17.3 percent to US$86.19.
The key driver of improved revenue per available room is the average daily rate, supported by forecast increases in gross domestic and tourism demand.
Hong Kong ranked fourth among Asia-Pacific cities, behind Tokyo, Seoul and Taipei in revenue terms.
However, the Hong Kong hotel industry was growing at a healthy pace despite its rates lagging several cities, the report quoted Christopher Khoo, PricewaterhouseCoopers' hospitality and leisure research director for the Asia-Pacific region, as saying.
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