APEC finance meeting pushes Hong Kong hotel occupancy near 100 per cent
The APEC Finance Ministers' Meeting has driven hotel occupancy in Hong Kong's core districts to near saturation, with peak rates of 98 per cent on Hong Kong Island and 95 per cent in Tsim Sha Tsui, according to Miramar Group's chief operating officer. Average room rates on the island have surpassed
The Asia-Pacific Economic Cooperation (APEC) Finance Ministers' Meeting, which began on Tuesday, has pushed hotel occupancy in Hong Kong's core districts to near-saturation levels, according to Alan Chan Chung-yee, chief operating officer of Miramar Group.
Speaking on a radio programme, Chan said foot traffic generated by the meeting has lifted average room rates on Hong Kong Island above HK$2,000. While the overall volume of business travellers visiting the city has recently been lower than in the past, the APEC gathering has attracted the most premium tier of business travellers, who heavily patronise four-star and five-star hotels.
During the two-day session, the hotel group's properties on Hong Kong Island recorded a peak occupancy rate of 98 per cent, while its hotels in Tsim Sha Tsui reached 95 per cent occupancy.
Chan added that hotels have significantly strengthened security measures for the event, and food and beverage teams have upgraded their services with a focus on Chinese cuisine, particularly premium dining experiences. Concierge teams are also actively promoting curated itineraries, such as recommending the West Kowloon Cultural District to guests staying in Tsim Sha Tsui.
The lawmaker stressed that the high-level meeting brings substantial potential benefits to Hong Kong, including attracting global media outlets whose delegations generate high demand for various types of hotels. He noted that the meeting will be followed by a series of major conventions, exhibitions and forums in the city, which are expected to draw a continuous influx of visitors.