Miramar Hotel and Investment recorded a 20 per cent year-on-year growth in room rates, thanks to the continuing influx of travellers.
Lee Ka-shing, managing director at Miramar, said after the company's annual general meeting yesterday that the occupancy rate of the hotel The Mira in Tsim Sha Tsui was more than 80 per cent this year.
The average room rate of the hotel was HK$2,000, which was 20 per cent higher than a year ago.
The average room rate last year was HK$1,760, up 19 per cent from HK$1,470 in 2010.
Despite the hotel market being clouded by the slowdown in the mainland economy, he said the hotel had a balanced mix of guests that would offset the impact. 'We haven't found hotel rental income has been affected and visitor arrivals to Hong Kong have increased 15 per cent in the first quarter,' he added.
'And the growth in visitor arrivals is expected to continue.'