Singapore’s upscale hotel demand has decreased by 2.8% year-on-year for the first half of 2013, it has been revealed.
Tourist numbers in the country saw a steady increase in the year ending May, rising by 3.8% y-o-y. If the figures continue on their current trajectory they will represent to a 7.6% growth, which is a stabilisation in comparison to the double-digit increases seen in previous years.
While upscale hotel demand decreased, luxury properties recorded positive growth of 5.8%. Average hotel rates slipped by 2% to US$200 year-on-year. The upscale and mid-tier scale hotels took the biggest knock within those statistics – with average daily rates declining by 10.3% and 5.2% respectively.
Singapore upscale hotel demand decreases
0 comments:
Post a Comment