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STR releases preliminary July 2016 data for Singapore

August 15, 2016 Hotel Trends No Comments Email Email

STR’s preliminary July 2016 data for Singapore indicates steady performance.http://indusatryclub.com.au/

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

  • increases in supply (+4.3%) and demand (+5.5%);
  • a 1.2% increase in occupancy to 88.3%;
  • a 0.5% decrease in average daily rate (ADR) to SGD277.45; and
  • a 0.6% increase in revenue per available room (RevPAR) to SGD245.11.

STR analysts attribute the 88.3% absolute occupancy level to coinciding events in the market: Singapore International Water Week (10-14 July) and the World Cities Summit (10-14 July).

STR will release actual July 2016 results during the week of 22 August.  The August edition of STR’s Market Forecast will be available at the end of the month.

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