STR’s Preliminary October 2013 Data for Singapore Hotels Shows Rise in RevPAR

STR Global’s preliminary October data for Singapore indicates flat to moderate hotel performance in the key metrics of occupancy, ADR and RevPAR.

The preliminary daily data from hotels in Singapore for October 2013 includes:

• increases in supply (+5.0%) and demand (+7.2%);

• a +2.1%increase in occupancy to 85.8%;

• a -0.7% decrease in ADR to Sin$300.68; and

• a +2.8% rise in RevPAR to Sin$258.05.

“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.