The lack of major events may have been the cause of stabilisation.
Hotel occupancy rate remained unchanged in September at 87% YoY with an average of 1700 visitors a month, according to CBRE Hong Kong’s Hotel Snapshot.
It was noted that only the HKTDC Hong Kong Watch & Clock Fair and the Restaurant & Bar Hong Kong were the only major events organised in September which might explain the lacklustre levels of occupancy figures in September.
CBRE also noted in its review of the hotel sector’s performance last year that hotels in the Yau Ma Tei/ Man Kok district posted the largest occupancy rate at 91% for the 39 hotels within its area.
This is followed by hotels in the districts of Tsim Sha Tsui and New Territories with an occupancy rate of 89% for its 53 and 26 hotels respectively.
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