Hong Kong and Shanghai Hotels record growth in all Peninsula Hotels in the first quarter

Peninsula Hotels' parent company, Hong Kong and Shanghai Hotels (0045), recorded year on year growth in average revenue per available room, average room rate, and occupancy rate in the first quarter.

Notably, the average revenue per available room in Greater China rose 31.3 percent to HK$2,902. The average room rate also increased by 11.5 percent to HK$4,475. While the occupancy rate grew by 10 percentage points to 65 percent.

At European Peninsula Hotels, average revenue per available room rose 12.5 percent to HK$4,886, average room rate grew 10.5 percent to HK$11,365, and occupancy rate increased by 1 percentage point to 43 percent.

In the US, average revenue per available room rose 17.6 percent to HK$4,377, average room rate was up by 4 percent to HK$6,999, and occupancy rate grew by 8 percentage points to 63 percent.

Excluding Greater China, in Asia, average revenue per available room rose 11.2 percent to HK$2,856, average room rate rose 2.4 percent to HK$3,939, and occupancy rate was 6 percentage points higher to 73 percent.
 

 

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