The Hongkong and Shanghai Hotels (HKG:0045) first-quarter revenue per available room for its Peninsula hotels in Greater China dropped to HK$2,211 from HK$2,327 a year prior.

RevPAR for other Asian locations rose to HK$2,568 from HK$2,034 a year earlier, while that for its US locations increased to HK$3,722 from HK$3,347, and European locations grew to HK$4,343 from HK$3,665.

Occupancy rates for its Greater China locations swelled to 55% from 51% in the year-ago period, while the rates for its other Asian locations increased to 67% from 57%.

Occupancy rates in the US grew to 55% from 53% while Europe's occupancy jumped to 42% from 36%.

Shares of the hotel operator closed 4% lower on Wednesday.