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STR Global releases preliminary March 2014 data for Singapore

April 14, 2014 Statistics & Trends No Comments Email Email

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

Based on STR Global daily data from March, preliminary data for Singapore includes:
* increases in supply (+3.7 percent) and demand (+3.9 percent);
* a 0.1-percent increase in occupancy to 85.8 percent;
* a 2.0-percent increase in average daily rate to SGD304.43; and
* a 2.1-percent increase in revenue per available room to SGD261.25.

“Singapore continued to grow ADR since August 2012, while occupancy remained stable at levels above 85.0 percent for the third year in a row for the month”, said Elizabeth Winkle, managing director of STR Global. “In particular, the positive ADR trend is driving RevPAR, resulting in the highest levels in this measure of any March since 1995 when STR Global began tracking hotel performance for the market”.

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

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