THE HONGKONG AND SHANGHAI HOTELS, LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
THE HONGKONG AND SHANGHAI HOTELS, LIMITED
(Incorporated in Hong Kong with limited liability)
(Stock Code: 00045)
Unaudited Operating Statistics - Fourth Quarter of 2014
The unaudited quarterly operating statistics of The Hongkong and Shanghai Hotels, Limited
(the "Company") for the fourth quarter of 2014 are as follows:
THE PENINSULA HOTELS
Occupancy rate (%) | Number of rooms | Q4 2014 | Q4 2013 | Change (pp) |
Hong Kong (note 9) | 300 | 79 | 84 | (5) |
Other Asia | 1,941 | 68 | 69 | (1) |
USA and Europe (note 10) | 972 | 71 | 74 | (3) |
Average Room Rate (HK$) | Number of rooms | Q4 2014 | Q4 2013 | Change (%) |
Hong Kong (note 9) | 300 | 5,480 | 5,149 | 6 |
Other Asia | 1,941 | 2,238 | 2,232 | 0 |
USA and Europe (note 10) | 972 | 6,131 | 5,212 | 18 |
RevPAR (HK$) | Number of rooms | Q4 2014 | Q4 2013 | Change (%) |
Hong Kong (note 9) | 300 | 4,317 | 4,312 | 0 |
Other Asia | 1,941 | 1,528 | 1,549 | (1) |
USA and Europe (note 10) | 972 | 4,339 | 3,843 | 13 |
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LEASING
Occupancy rate (%) | Q4 2014 | Q4 2013 | Change (pp) |
Residential (note 15) | 88 | 83 | 5 |
Shopping Arcades | 98 | 99 | (1) |
Office | 100 | 90 | 10 |
Average Monthly Yield per available square foot (HK$) | Q4 2014 | Q4 2013 | Change (%) |
Residential (note 15) | 43 | 40 | 8 |
Shopping Arcades | 207 | 196 | 6 |
Office | 55 | 47 | 17 |
The unaudited quarterly operating statistics of the Company for 2014 and 2013 are as follows:
THE PENINSULA HOTELS
Occupancy rate (%) | Number of Rooms | 2014 | 2013 |
Occupancy rate (%) | Number of Rooms | Q1 Q2 Q3 Q4 | Q1 Q2 Q3 Q4 |
Hong Kong (note 9) | 300 | 78 70 74 79 | 84 60 65 84 |
Other Asia | 1,941 | 60 66 65 68 | 62 66 66 69 |
USA and Europe (note 10) | 972 | 63 81 82 71 | 64 77 79 74 |
Average Room Rate (HK$) | 2014 | 2013 |
Average Room Rate (HK$) | Q1 Q2 Q3 Q4 | Q1 Q2 Q3 Q4 |
Hong Kong (note 9) | 5,111 5,242 4,733 5,480 | 6,212 5,200 4,588 5,149 |
Other Asia | 2,104 2,258 1,964 2,238 | 2,119 2,142 1,932 2,232 |
USA and Europe (note 10) | 4,842 5,009 5,559 6,131 | 4,601 4,907 4,687 5,212 |
RevPAR (HK$) | 2014 | 2013 |
RevPAR (HK$) | Q1 Q2 Q3 Q4 | Q1 Q2 Q3 Q4 |
Hong Kong (note 9) | 3,989 3,653 3,487 4,317 | 5,232 3,125 2,978 4,312 |
Other Asia | 1,256 1,492 1,274 1,528 | 1,316 1,423 1,270 1,549 |
USA and Europe (note 10) | 3,069 4,034 4,554 4,339 | 2,967 3,760 3,709 3,843 |
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LEASING
Occupancy rate (%) | 2014 | 2013 |
Occupancy rate (%) | Q1 Q2 Q3 Q4 | Q1 Q2 Q3 Q4 |
Residential (note 15) | 84 84 86 88 | 95 96 84 83 |
Shopping Arcades | 99 98 96 98 | 99 99 99 99 |
Office | 90 98 100 100 | 90 94 95 90 |
Average Monthly Yield per available square foot (HK$) | 2014 | 2013 |
Average Monthly Yield per available square foot (HK$) | Q1 Q2 Q3 Q4 | Q1 Q2 Q3 Q4 |
Residential (note 15) | 41 41 42 43 | 44 45 40 40 |
Shopping Arcades | 206 202 210 207 | 184 190 194 196 |
Office | 48 52 54 55 | 45 49 49 47 |
Notes for All Operations:
1. pp = percentage points
2. ( ) = the change is a decrease compared with last year
3. All amounts are expressed in HK$
Notes for The Peninsula Hotels:
4. Occupancy rate: Rooms occupied / Rooms available
5. Average room rate:
Total rooms revenue including any undistributed service charge / Rooms occupied
6. RevPAR:
Total rooms revenue including any undistributed service charge / Rooms available
7. Occupancy rates, average room rates and RevPAR are weighted averages for the hotels in each grouping.
8. The average room rates and RevPAR include undistributed service charge, which is levied at 10% in Hong Kong and at 15% in China and Japan.
9. The renovation in The Peninsula Hong Kong was completed in two phases, resulting in
135 rooms being removed from saleable inventory from January to September 2012, followed by 165 rooms from September 2012 to May 2013. This impacts on the Occupancy and RevPAR statistics from Q1 of 2012 through to Q2 of 2013.
10. The Peninsula Paris has 200 rooms and is included in these operating statistics from Q3 of 2014, having gradually opened from 1 August 2014. The occupancy and RevPAR for this hotel are based on the average number of available rooms per day, which was 171 rooms. The RevPAR for only the hotels in the USA (excluding Paris) was HK$4,297 in Q4 of 2014.
11. The Peninsula Hotels are located in: Hong Kong: Hong Kong
Other Asia: Shanghai, Beijing, Tokyo, Bangkok and Manila
USA and Europe: New York, Chicago, Beverly Hills and Paris
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Notes for Leasing:
12. Occupancy rate: Occupied area / Area available
13. Average monthly yield per available square foot: Total rental income / Area available
14. Occupancy rates are weighted averages based on the space available in each grouping.
15. Residential includes all apartments in The Repulse Bay Complex. The statistics are affected by the re-opening of de Ricou tower in August 2013 after an 18-month closure for a complete renovation.
16. Shopping Arcades are located in The Peninsula Hotels in Hong Kong, Shanghai, Beijing, Tokyo, Bangkok, Manila, New York and Paris, as well as The Repulse Bay Complex and The Peak Tower.
17. Offices are located in The Peninsula Hong Kong and St. John's Building.
18. The operating statistics do not include information for operations that are not consolidated or whose results are not material in the Group context: The Landmark, Vietnam; The Peninsula Residences, Shanghai; and 21 avenue Kléber, Paris. The operating statistics also do not include information for 1-5 Grosvenor Place, London because of the proposed redevelopment.
For and on behalf of the Board
The Hongkong and Shanghai Hotels, Limited
Christobelle Liao
Company Secretary
Hong Kong, 20 March 2015
As at the date of this announcement, the Board of Directors of the Company comprises the following Directors:
Non-Executive Chairman
The Hon. Sir Michael Kadoorie
Non-Executive Deputy Chairman
Andrew Clifford Winawer Brandler
Executive Directors
Managing Director and Chief Executive Officer
Clement King Man Kwok
Chief Operating Officer
Peter Camille Borer
Chief Financial Officer
Alan Philip Clark
Non-Executive Directors Ronald James McAulay William Elkin Mocatta
John Andrew Harry Leigh
Nicholas Timothy James Colfer
Independent Non-Executive Directors
Dr. the Hon. Sir David Kwok Po Li
Patrick Blackwell Paul
Pierre Roger Boppe
Dr. William Kwok Lun Fung
Dr. Rosanna Yick Ming Wong
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