- a 0.1% decrease in occupancy to 80.6%;
- a 2.4% decrease in average daily rate to SGD315.64;
- a 2.5% decrease in revenue per available room to SGD254.47; and
- increases in supply (+2.6%) and demand (+2.5%).
September is categorized as a traditionally strong month in Singapore, and 2015 was expected to show a similar trend with high rate events such as the Asia Pacific Petroleum Conference (8-10 September) and Singapore F1 Night Race (18-20 September). STR Global analysts note that air quality issues triggered by forest fires in Indonesia placed the Grand Prix event at risk of cancellation and might have been a factor for the overall slowed performance in the market.
STR Global will release September 2015 results during the week of 26 October. The August edition of the STR Global Hotel Market Forecast is now available.