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STR Global releases preliminary February 2014 data for Singapore

March 20, 2014 Statistics & Trends No Comments Email Email

STR Global’s preliminary February data for Singapore indicates positive results for the three key performance metrics.

Based on STR Global daily data from February, preliminary data for Singapore includes:
* increases in supply (+3.5 percent) and demand (+10.1 percent);
* a 6.4-percent increase in occupancy to 88.7 percent;
* a 9.9-percent increase in average daily rate to SGD319.17;
* a 17.0-percent increase in revenue per available room to SGD283.25; and
* a 3.6 percent increase in RevPAR is expected in 2014.

“Singapore posted double-digit RevPAR growth for the first time in the last two years, recording the highest levels in this measure of any February since STR Global began tracking hotel performance in this market”, said Elizabeth Winkle, managing director of STR Global. “Strong ADR was main contributor to this trend, and is expected to drive positive RevPAR performance in 2014”.

STR Global will release February 2014 results within the next two weeks. The February edition of the STR Global Hotel Market Forecast is available with immediate effect.

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