Kong hotels occupancy slightly lower in first
The occupancy rate of hotels in Hong Kong during
the first eight months of the year was 84.2
percent, slightly lower than the 85.7 percent
from the same period last year, an industry
association said Friday.
Average room rate for the period, however, was
1,046 HK dollars (134 U.S. dollars), representing
a growth of 11.9 percent year on year, according
to the Hong Kong Hotels Association.
Mark Lettenbichler, chairman of the association,
attributed the slight decline in occupancies
to an increase in hotel room inventory, adding
that the inventory was set to increase by a
further 5,000 rooms by the year end.
so, the industry would expand to 52,000 hotel
rooms by that time.