China: Shama Management Ltd., which operates four serviced apartment properties in Hong Kong, has released a storing set of trading figures for 2014.
Its average occupancy rate reached 89.8 per cent, a three per
cent increase on 2013, and the company predicts a growing stream of
guests from China and Japan.
The company said: "In 2014, corporate clients continued to downgrade their expat packages such as tightening housing budget, which leads to a more cautious selection of overseas accommodation while relocating staff on assignments of shorter term. A significant decrease in length of stay was recorded last year, especially the period of three to six months. Shama actually benefits from the change; though a year-on-year three per cent decrease in the sector is recorded. A rise of about seven per cent was recorded for stays of one to three months, which has balanced out the decrease on longer stay, resulting in an overall increase of occupancy and revenue."
Marilyn Fu, director of sales and marketing for ONYX Hospitality Group (North Asia) - Shama's parent company - said: "We are looking to 2015 with optimism although the global economy remains uncertain. We expect a mild increase of three to five per cent in monthly rental in 2015. With what Shama brand promises and the relationship with multinational companies we have built up, Shama remains the preferred choice for expatriate housing for discerning travellers. Shama tenants can enjoy regular social and networking activities which help them to make the most of the city and live like locals."