- increases in supply (+2.8%) and demand (+4.7%);
- a 1.8% increase in occupancy to 87.3%;
- a 3.2% decrease in average daily rate to SGD279.15; and
- a 1.4% decrease in revenue per available room to SGD243.75.
According to STR Global analysts, Singapore posted a year-over-year increase in occupancy for the first time in 10 months. The positive performance came as demand growth outpaced supply growth for the month.
STR Global will release July 2015 results during the week of 24 August. The August edition of the STR Global Hotel Market Forecast also will be available at the end of the month.