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Singapore’s hotel industry recorded positive performance in three key performance measures in July, revealed STR Global’s preliminary July data.
Notably, daily data from July showed that hotel supply in Singapore increased 1.8 percent while demand climbed 4.4 percent.
The city-state also saw occupancy rate increase 2.5 percent to 87.4 percent, while average daily rate (ADR) inched up 1.3 percent to S$288.95. Revenue per available room also increased 3.9 percent to S$252.41.
According to Elizabeth Winkle, STR Global’s managing director: “Singapore reported increases in occupancy performance, achieving levels in the excess of 80 percent for the fifth month in a row.”
“ADR grew moderately for the month, resulting in an overall positive RevPAR performance, following two months of declines in this measure,” she added.
Nikki De Guzman, Editor at CommercialGuru, edited this story. To contact her about this and other stories, email nikki@propertyguru.com.sg
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