Based on daily data from October, Singapore reported:
- increases in supply (+2.6%) and demand (+6.8%);
- a 4.1% increase in occupancy to 86.0%;
- a 0.6% increase in average daily rate to SGD297.79; and
- a 4.7% increase in revenue per available room to SGD256.00.
The Singapore Tourism Board reported a 4.0% increase in September international visitors from Asia. STR Global analysts also note that revenue managers in the market expect a short bounce back in Chinese arrivals in Singapore with year-to-date growth of 21.1%.
October hotel performance also was helped by a Women’s Tennis Association tournament and Sibos 2015.
STR Global will release October 2015 results later this month. The November edition of the STR Global Hotel Market Forecast will be available at the end of the month.