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May 8th, Grand Hotel (0045Gold88slotHK) released its release as of the end of March 2024Gold88slotFirst-quarter operating data. According to the data, the occupancy rate of The Peninsula Hong Kong is 46%, up 7% from the same period last year, the average rent rose to HK $7169, up 29.69% from the same period last year, and the average revenue from rentable rooms reached HK $3327, a year-on-year increase of 54.39%. In other parts of Asia, the occupancy rate of the Peninsula Hotel rose to 56 per cent, up 3 percentage points from a year earlier, the average room rate rose to HK $3420, up 8.16 per cent from a year earlier, and the average rentable room revenue reached HK $1927, up 14.84 per cent from a year earlier. However, Peninsula Hotel performed slightly worse in the United States and Europe. Although the rental rate was 46 per cent, it fell 2 percentage points from a year earlier, with an average rent of HK $7666, up 6.52 per cent from a year earlier, and average rentable room revenue of HK $3490, a slight increase of 1.42 per cent. Despite the sound performance of The Peninsula Hong Kong, Michael Kadoorie, chairman of the Hong Kong and Shanghai Hotel, pointed out that the number of long-distance visitors to Hong Kong had not reached the expected level. Business at The Peninsula Tokyo remains strong, hotel rates remain high, and business performance in other parts of Asia and the United States is excellent. Michael Kadoorie also mentioned that although new hotels in London and Istanbul have not yet reached stable profitability, they are cautious about the outlook for the second half of 2024 and will continue to closely monitor developments in their respective markets. (0045.HK 's first-quarter operating data show that Peninsula Hotel performance varies in different regions, with significant increases in The Peninsula Hong Kong occupancy rates and average room rates, as well as good performance in other parts of Asia, but slightly weaker in the United States and Europe. ]
