December occupancies decline
HONGKONG hotel occupancies slid to an average of 80.2 per cent at the start of the low season in December, after reaching 91 per cent in November.
Middle-market properties topped the list, but luxury hotels continued to return the highest yield.
A survey of 33 hotels showed that the Regal Airport, which topped the occupancy list during the past three months, managed a whopping 99.4 per cent average in December.
It was followed by the New World Hotel with 95.6 per cent; Ambassador Hotel, 93.6 per cent; Omni Prince, 92.83 per cent and Park Lane, 92 per cent.
The Peninsula is still the most expensive with an average room rate of $2,418.60, with the Regent a distant second, with $2,093.
Others with high room rates were the Grand Hyatt at $1,640.41, Mandarin Oriental at $1,516, Island Shangri-La at $1,457.56, Kowloon Shangri-La at $1,303.08, and Conrad at $1,158.