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Preliminary April data for Singapore hotels

May 13, 2017 Hotel Trends No Comments Email Email

STR’s preliminary April 2017 data for Singapore indicates lower occupancy levels and room rates. http://rinfo.travelcounsellors.com/au/your-world-better?utm_campaign=Your%20World%20Better&utm_content=World%20of%20Support&utm_medium=eNewsletter%20MREC&utm_source=%20eGlobal

Based on daily data from April, Singapore reported the following in year-over-year comparisons:

  • Supply: +2.7%
  • Demand: +0.3%
  • Occupancy: -2.3% to 81.1%
  • Average daily rate (ADR): -4.6% to SGD268.01
  • Revenue per available room (RevPAR): -6.8% to SGD217.31

Despite the year-over-year decline, STR analysts note that the country’s absolute occupancy level remained solid. Sea Asia maritime exhibition and conference (25-27 April) pushed occupancy above 90% on the 25th and 26th.

ADR in Singapore has decreased year over year for 14th consecutive months, due in part to significant supply growth.

STR will release actual April 2017 results later this month. The May edition of STR’s Market Forecast also will be available in the coming weeks.

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