Singapore hotel industry increases 0.9% in occupancy to 82.5 percent in September
STR Global’s preliminary September data for Singapore indicate mixed performance in key performance measures.
Based on daily data from September, Singapore reported:
- increases in supply (+2.6 percent) and demand (+3.5 percent);
- a 0.9-percent increase in occupancy to 82.5 percent;
- a 0.7-percent decrease in average daily rate to SGD324.61; and
- a 0.2-percent increase in revenue per available room to SGD267.84.
“Singapore managed to maintain the same levels of performance for the month of September as last year”, said Elizabeth Winkle, managing director of STR Global. “Year after year, the city of Singapore is taken over by the race track of the Formula 1 grand prix, which makes September traditionally the month with the highest ADR achieved for the market”.
STR Global will release September 2014 results in two weeks. The August edition of the STR Global Hotel Market Forecast is now available.
About STR Global:
STR Global provides clients-including hotel operators, developers, financiers, analysts and suppliers to the hotel industry-access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, segmentation data, forecasts, annual profitability, pipeline and census information. Hotel operators can join the surveys on a complimentary basis and benefit from free industry data. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics and Hotel News Now. For more information, please visit www.strglobal.com.