Hongkong and Shanghai Hotels, Ltd. (HK&S HOTELS, 00045) released unaudited fourth-quarter 2025 operating statistics for its Peninsula Hotels and leasing portfolios. The data signal continued post-pandemic recovery in hotel operations, while leasing showed a more differentiated picture across asset classes.
Hotel Operations – Q4 2025 vs. Q4 2024
1. Revenue per available room (RevPAR) • Greater China: HK$3,428, up 16.70% year on year (YoY). • Europe: HK$7,135, up 10.97% YoY. • USA: HK$6,413, up 13.44% YoY. • Asia (ex-Greater China): HK$3,091, up 14.94% YoY.
2. Average room rate • Greater China: HK$4,524, +6.07% YoY. • Europe: HK$13,122, +14.90% YoY. • USA: HK$8,880, +7.89% YoY. • Asia (ex-Greater China): HK$4,241, +6.10% YoY.
3. Occupancy rate • Greater China: 76%, up 7 percentage points (ppts). • Europe: 54%, down 2 ppts. • USA: 72%, up 3 ppts. • Asia (ex-Greater China): 73% (2024 comparative figure distorted in filing; YoY change not disclosed).
Leasing Portfolio – Q4 2025 vs. Q4 2024
Average monthly rent per sq. ft. • Residential: HK$48, +4.35% YoY. • Shopping arcades: HK$135, +0.75% YoY. • Office: HK$65, ‑1.52% YoY.
Occupancy rate • Residential: 95%, unchanged YoY. • Shopping arcades: 90%, +2 ppts YoY. • Office: 76%, ‑9 ppts YoY.
Operational Footprint
• Peninsula hotels covered in the survey span 3 regions in Greater China (Hong Kong, Shanghai, Beijing); 3 in Europe (London, Istanbul, Paris); 3 in the USA (New York, Chicago, Beverly Hills); and 3 in Asia excluding Greater China (Tokyo, Bangkok, Manila). • Total key count at 31 December 2025 stood at 3,106 rooms, led by Asia (ex-Greater China) with 1,023 keys.
Management noted that the information is unaudited and advised shareholders and investors to exercise caution when dealing in the company’s securities.
The announcement was authorised by the Board and published in Hong Kong on 18 March 2026.
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