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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.http://www.tourismthailand.org/landing/landing_en.html

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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