STR Global’s preliminary February data for Singapore indicates positive results for the three key performance metrics.
Based on STR Global daily data from February, preliminary data for Singapore includes:
* increases in supply (+3.5 percent) and demand (+10.1 percent);
* a 6.4-percent increase in occupancy to 88.7 percent;
* a 9.9-percent increase in average daily rate to SGD319.17;
* a 17.0-percent increase in revenue per available room to SGD283.25; and
* a 3.6 percent increase in RevPAR is expected in 2014.
“Singapore posted double-digit RevPAR growth for the first time in the last two years, recording the highest levels in this measure of any February since STR Global began tracking hotel performance in this market”, said Elizabeth Winkle, managing director of STR Global. “Strong ADR was main contributor to this trend, and is expected to drive positive RevPAR performance in 2014”.
STR Global will release February 2014 results within the next two weeks. The February edition of the STR Global Hotel Market Forecast is available with immediate effect.
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 Positive Performance for February 2014
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