Grand Hotel (00045) announced that in the first quarter of 2024, the Group's Hong Kong Peninsula Hotel room occupancy rate was 46%, an increase of 7 percentage points over the previous year. The average rent was HK$7,169, up 29.69% year on year; room occupancy rate in other Asian regions was 56%, up 3 percentage points year on year; room occupancy rate in the US and Europe was 46%, down 2 percentage points year on year.
The average monthly rent for residential rental properties in the first quarter of 2024 was HK$45; the average monthly rent for shopping mall rental properties was HK$140 per square foot; and the average monthly rent for office buildings was HK$66 per square foot per square foot.