Hong Kong's RevPAR is increasing by double digits.

 

Hotel performance in Hong Kong is solid, according to STR Global. The year-to-September 2011 revenue per available room (RevPAR) growth rate was well into the double digits, at 28 percent. The increase is mostly due to significant increases in average daily rate (ADR) as well as high occupancy growth. buying property in qatar for expats

Both Hong Kong Island (26.1 percent) and Kowloon (26.1 percent) recorded substantial RevPAR increases inside Hong Kong (29.5 percent). However, though occupancies on Hong Kong Island are slightly lower (82%) than in Kowloon (82.6%), they have expanded substantially quicker (4.5%) than in Kowloon (1.4%). In contrast, ADR in Kowloon is smaller (HK$1,705.74) than on Hong Kong Island (HK$1,930.94), but it has grown quicker (27.7% vs. 20.7%). The difference in ADR between Hong Kong Island and Kowloon reflects the former's higher concentration on business and luxury passengers, while the latter's focus is primarily on leisure passengers in mid-tier hotels.

In the long run, hotel RevPAR performance (measured over a rolling 12-month period to avoid seasonality) demonstrates that Hong Kong and each of its submarkets have surpassed levels last seen in 1997.

"Hong Kong's RevPAR performance has already surpassed the highs of 1997, when Hong Kong transitioned from a British colony to a Chinese Special Administrative Region," said Elizabeth Randall, managing director of STR Global. "Hong Kong's role as a gateway to China, its continued appeal as a stable international financial center, and the success of the Individual Visitor Scheme, combined with the current weakness of the HK Dollar against the Renminbi in attracting visitors from mainland China, have all contributed to this success story."

STR Global is sampling around 11,300 rooms on Hong Kong Island and over 11,500 rooms in Kowloon at the moment.

 

The Dye Course at Binhai Lake Golf Club in China has opened.

(CHINA, TIANJIN) — The Pete Dye Course at Tianjin Binhai Lake Golf Club has opened for its first full season, according to Schmidt-Curley Design, one of the world's most active and innovative golf course design businesses.

Ten windswept, lakeside holes make up Tianjin Binhai, a partnership between golf course designers Lee Schmidt and Brian Curley and their mentor Pete Dye. The location, which was within the limits of a man-made lake, was drained and its bottom dug to make construction possible. The fill that resulted was used to build the peninsula on which the golf course is located.

The course has already received numerous plaudits, including hosting the Volvo China Open on the PGA European Tour in 2012.

"Our ability to transform less-than-ideal grounds into great golf courses is demonstrated in Tianjin Binhai Lake," says Brian Curley. "Our design ingenuity, construction management capabilities, and shaping expertise were all on exhibit."

Tianjin Binhai Lake is a par-72, 7,577-yard core golf course located 50 miles southeast of Beijing. The design team constructed large fairways to account for the sometimes windy weather.

"When possibilities to work with Pete occur, we're always excited," says Curley. "Lee and I had the privilege of working with him on some of his most prestigious projects, including Casa de Campo, PGA West, and Kiawah Island. We credit a lot of our accomplishments to his mentorship and friendship."

The facility's Pete Dye Course is the first of two. Schmidt-Curley will premiere an 18-hole solo project next spring.