STR Global’s preliminary December data for Singapore indicates flat or negative performance for the three key performance measures.
Based on STR Global daily data from December, preliminary data for Singapore includes:
• increases in supply (+5.0 percent) and demand (+3.0 percent);
• a -1.9-percent decrease in occupancy to 79.0 percent;
• a 0.0-percent growth in average daily rate to SGD298.56; and
• a -2.0-percent decline in revenue per available room to SGD235.75.;
“Singapore is closing a year with ups and downs in terms of hotel performance posting negative growth in RevPAR in December.”, said Elizabeth Winkle, managing director of STR Global. “While ADR remains flat compared to last year, occupancy fell to the lowest level since 2009, impacted by the additional supply coming into this market”.
STR Global will release December 2013 results in two weeks. The next edition of the STR Global Hotel Market Forecast will be available by the end of February.
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 December 2013
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