Hong Kong Hospitality Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Outlook of Hong Kong Hospitality Industry is segmented by Type (Chain Hotels and Independent Hotels), by Segment (Service Apartments, Budget and Economy Hotels, Mid and Upper Mid-Scale Hotels and Luxury Hotels).

Hospitality in Hong Kong Market Size

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Hospitality Industry in Hong Kong Market Outlook
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Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR > 5.70 %

Major Players

Hospitality Industry in Hong Kong Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Hospitality in Hong Kong Market Analysis

The hospitality industry in Hong Kong has recorded steady growth with the growing number of tourists from all over the world despite the uncertainty over the US-China trade war and Brexit. The total number of tourist arrivals to Hong Kong rose to a record high of 65.1 million in 2018 which was 11.4% more than the total arrivals it recorded in 2017. The average room rate grew by 9% with an average HK$1,310 per night, whereas the occupancy rate hit the highest of all-time with 92.05% compared with 90.74% in 2017. According to the Hong Kong Hotels Association, the first half of 2019 continued the trend with growing numbers but from the mid of July 2019, the scenario has changed with the rising number of protests all over the country that created Vandalism and disruptions to the major transport infrastructure which affected international conferences, exhibitions, events, etc and resulted in 13% year on year decline in revenue per available room which hit the worst in August 2019. August 2019 witnessed an almost 40% sharpest decline in occupancy rate since the 2003 SARS crisis. The COVID - 2019 is challenging the hospitality industry which greatly depends on the tourism sector. the tourist arrivals to Kong Hong recorded around 70% drop during the first quarter of 2020 amidst the pandemic situation.

Hospitality in Hong Kong Market Trends

This section covers the major market trends shaping the Hong Kong Hospitality Market according to our research experts:

The Competition between Domestically Grown and International Brands is Influencing the Supply Dynamics

The hospitality industry in Hong Kong is a combination of domestically grown brands and chain hotels and international brands and their chain hotels. According to the latest release by the Home Affairs Department of Hong Kong, the country has 299 registered hotels that belong to different hotel brands and market segments constituting 186 chain hotel properties that are spread across the country. The international brands and their chain hotels are occupying 57% of the total hotel properties whereas the domestically grown hotels constitute for 43% of the total hotel properties. Though the domestically grown brands and their hotel chains are occupying less share of the market in terms of total hotel properties, they are adding a high number to the total rooms/keys to the supply.

Hospitality Industry in Hong Kong Market Share

The Mid- and Upper Mid-scale Segment Hotels are Dominating the Market

The Mid and Upper Mid-scale hotel segment is dominating the market with around 79% of total registered hotels belongs to that category followed by approximately 18% of luxury hotels. The budget and economy segment hotels constitute just 0.1% of the total indicating the negligible demand for them. Though most chains of both international and domestic brands are less focusing on the budget and economy segment, the segment is largely covered by the individual hotel properties.

Hospitality Industry in Hong Kong Market Analysis

Hospitality in Hong Kong Industry Overview

The chain hotels are dominating the hotel market in terms of total room/keys supply and account for around 73% of total supply and the domestically grown brands are dominating the overall supply. Harbour Plaza and Regal Hotels International account for largest supply of total rooms/keys with 11 and 9 hotels, and around 7,500 and 4,900 rooms/keys respectively. Marriott International and IHG are the leading international brands with high presence rate in Hong Kong as Marriott has 9 hotels and around 4,500 rooms/keys and IHG has 12 hotels and around 3,700 rooms/keys.

Hospitality in Hong Kong Market Leaders

  1. Harbour Plaza Hotel Management Limited

  2. Regal Hotels International

  3. Marriott International Inc

  4. InterContental Hotel Group

  5. Dorsett Hospitality International

*Disclaimer: Major Players sorted in no particular order

Harbour Plaza Hotel Management Limited, Regal Hotels International, Marriott International Inc, InterContental Hotel Group, Dorsett Hospitality International
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Hospitality in Hong Kong Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS AND DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Dynamics

      1. 4.2.1 Drivers

      2. 4.2.2 Restraints

      3. 4.2.3 Opportunities

    3. 4.3 Impact of COVID-19 on Hospitality Industry

    4. 4.4 Insights on Revenue Flows from Accommodation and Food and Beverage Sectors

    5. 4.5 Leading Cities in Hong Kong with Respect to Number of Visitors

    6. 4.6 Investments (Real Estate, FDI and others) in the Hospitality Industry

    7. 4.7 Technological Innovations in the Hospitality Industry

    8. 4.8 Insights on Shared Living Spaces Impact on the Hospitality Industry

    9. 4.9 Insights on Other Economic Contributors to the Hospitality Industry

    10. 4.10 Value Chain Analysis

    11. 4.11 Porter's Five Forces Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Chain Hotels

      2. 5.1.2 Independent Hotels

    2. 5.2 By Segment

      1. 5.2.1 Service Apartments

      2. 5.2.2 Budget and Economy Hotels

      3. 5.2.3 Mid and Upper Mid Scale Hotels

      4. 5.2.4 Luxury Hotels

  6. 6. COMPETITVE INTELLIGENCE

    1. 6.1 Market Concentration

    2. 6.2 Company profiles

      1. 6.2.1 Harbour Plaza Hotel Management Ltd

      2. 6.2.2 Regal Hotels International

      3. 6.2.3 Marriott International Inc

      4. 6.2.4 InterContinental Hotels Group PLC

      5. 6.2.5 Dorsett Hospitality International

      6. 6.2.6 L' Hotel Group

      7. 6.2.7 Accor SA

      8. 6.2.8 Sino Hotels

      9. 6.2.9 Shangri-la Hotels and Resorts

      10. 6.2.10 Sun Hung Kai*

    3. *List Not Exhaustive
    4. 6.3 Loyalty programs offered by Major Hotel Brands

  7. 7. INVESTMENT ANALYSIS

  8. 8. FUTURE OUTLOOK OF THE SECTOR

  9. 9. APPENDIX

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Hospitality in Hong Kong Industry Segmentation

A complete background analysis of the Hospitality Industry in Hong Kong, which includes an assessment of the industry associations, overall economy, and emerging market trends by segments, significant changes in the market dynamics, and market overview is covered in the report.

By Type
Chain Hotels
Independent Hotels
By Segment
Service Apartments
Budget and Economy Hotels
Mid and Upper Mid Scale Hotels
Luxury Hotels
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Hospitality in Hong Kong Market Research FAQs

The Hong Kong Hospitality Market is projected to register a CAGR of greater than 5.70% during the forecast period (2024-2029)

Harbour Plaza Hotel Management Limited, Regal Hotels International, Marriott International Inc, InterContental Hotel Group and Dorsett Hospitality International are the major companies operating in the Hong Kong Hospitality Market.

The report covers the Hong Kong Hospitality Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Hong Kong Hospitality Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Hospitality in Hong Kong Industry Report

Statistics for the 2024 Hospitality in Hong Kong market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. Hospitality in Hong Kong analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Hong Kong Hospitality Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)