The latest Asia Pacific hotel occupancy analytics paint a dim picture for Hong Kong weeks after protests shut down one of the busiest airports in the world.
According to STR, a research firm, hotel occupancy across Asia Pacific had a few negative indicators in July. While net occupancy throughout the region was up, Hong Kong specifically was met with difficulties.
In Hong Kong, hotel occupancy in July dipped 4.1 per cent, to an average occupancy of 83.4 per cent. The average daily rate went down 9.1 per cent to HKD1,163.21. Revenue per available room also dipped 12.9 per cent to land at HKD970.42.
According to STR, the dip in hotel occupancy, rate and revenue can be tied directly to the protests going on in the region. Hotel demand dropped 3 per cent and preliminary figures show a double-digit drop in visitor arrivals for the second half of the month.
During the first half of the year, Hong Kong was going strong with 13.9 per cent growth of visitor arrivals.
Singapore sits on the opposite end of the spectrum with noticeable gains in all the same categories. Occupancy rose 1.9 per cent to 91.8 per cent, average daily rate jumped half of a percentage point to SGD268.79 and revenue per available room jumped 2.4 per cent, to SGD246.80.
The region as a whole sits somewhere in the middle, with a tiny boost in occupancy to 73.2 per cent. The average daily rate dropped 1.5 per cent to $95.28.
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