Singapore Hotels Report Mixed Performance for September 2014

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.

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