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STR: Preliminary November 2016 data for Singapore

December 17, 2016 Hotel Trends No Comments Email Email

STR’s preliminary November 2016 data for Singapore indicates overall performance declines.

Based on daily data from November, Singapore reported the following in year-over-year comparisons:

  • increases in supply (+4.0) and demand (+2.2%);
  • a 1.8% decrease in occupancy to 81.1%;
  • a 4.2% decrease in average daily rate (ADR) to SGD273.49; and
  • a 5.9% decrease in revenue per available room (RevPAR) to SGD221.74.

The absolute occupancy level would fall in line with the country’s average through the first 10 months of 2016 (81.7%). STR analysts note that the market has struggled since concerns over the Zika virus surfaced in August. Consistent supply growth (+3.5% year to date through October) and fewer major events in the market also have played a role in lower performance. November 2016 would mark the lowest absolute RevPAR level for a November in Singapore since 2009.

STR will release actual November 2016 results later this month. The November edition of STR’s Market Forecast is now available.

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