Bookmark & Share
Due to a five percent rise in room demand, the average occupancy rate of Singapore hotels increased by 1.6 percentage points year-on-year to 80 percent in October 2017, reported Hotel News Resource.
According to market research firm STR, the preliminary data for the month show that the supply of hotel rooms in the city-state increased by 3.3 percent last month.
However, the average daily rate (ADR) fell for the 20th straight month to $270.66, down 2.2 percent compared to the same period last year.
At the same time, revenue per available room (RevPAR) dipped 0.6 percent to $216.59, or the lowest level for October since 2009.
This article was edited by Keshia Faculin.
Related Articles:
COURTS Megastore in Tampines undergoes makeover
CapitaLand opens its biggest shopping mall
Overseas mall operator eyes Singapore as gateway to Southeast Asia