Singapore thrives on pricy hotels


LONDON, 15 May 2018: STR’s preliminary data for April shows Singapore hotels enjoying a 1.6% increase in occupancy to close the month at 82.4%.

Earnings were positive too with Singapore hotels collectively registering an average daily rate of SGD 272.26 up 2.2%.

Revenue per available room (RevPAR) climbed 3.4% to give the city-state an average of SGD 224.42.

Room supply in Singapore actually increased by 5.1% in April, while demand was up 6.7%.

A spike in demand outpaced significant supply growth, which helped boost performance for the month.

STR analysts note that this would be the third consecutive month of ADR and RevPAR growth for Singapore. Additionally, this would be the first increase in ADR for an April since 2014.

(Source: STR)