STR Global’s preliminary October data for Singapore indicates flat to moderate hotel performance in the key metrics of occupancy, average daily rate and revenue per available room.
Based on STR Global daily data from October, preliminary data for Singapore includes:
• increases in supply (+5.0 percent) and demand (+7.2 percent);
• a +2.1-percent increase in occupancy to 85.8 percent;
• a -0.7-percent decrease in ADR to SGD300.68; and
• a +2.8-percent rise in RevPAR to SGD258.05.
“October’s positive supply growth for Singapore is keeping pace with the trend in 2013; however, demand grew stronger for the second time this year, resulting in the highest monthly occupancy levels since 2007”, said Elizabeth Winkle, managing director of STR Global.
STR Global will release October 2013 results in two weeks. Revised 2013 forecasts will be available around the same time.
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.
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Singapore Hotels Report Flat Performance for October 2013
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