Greater China Peninsula room revenue jumps 18pc in Q3

Peninsula hotels in Greater China, operated by The Hongkong and Shanghai Hotels (0045), saw third-quarter revenue per available room jump 18 percent year-on-year to HK$2,912.

Across other regional operations, European properties posted a revenue per available room of HK$10,616, representing a 15 percent increase. US hotels recorded a 9 percent rise to HK$6,534, while properties in Asia excluding Greater China increased 2 percent to HK$2,046.

Office space was the weakest link, with average monthly rents falling 9 percent to HK$62 per square foot and occupancy plunging 15 percentage points to 61 percent.

By contrast, retail arcades performed steadily. Average monthly rents rose 7 percent to HK$141 per square foot, with occupancy up 2 percentage points to 91 percent. Residential leasing remained stable, with rents up 4 percent to HK$49 per sq ft.    

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