STR Reports Preliminary August 2013 Data from Hotels in Singapore

STR Global’s preliminary August 2013 data for Singapore indicates flat hotel performance in the three key metrics of occupancy, ADR and RevPAR.

“Singapore was impacted by a general slowdown of the Asian economies, but it also has seen a sharp increase in supply that led to stagnation in occupancy,” said Elizabeth Winkle, managing director of STR Global.

Based on STR Global daily data from August, preliminary data for Singapore includes:

- increases in supply (6.9%) and demand (7.8%);
- a 0.9% increase in occupancy to 87%;
- a 0.3% increase in ADR to Sin$294.19; and
-a 1.2% rise in RevPAR to Sin$256.00.

“Based on the recent slowdown in Singapore, the year-end 2013 forecast has been revised downward,” said Naureen Ahmed, manager of marketing and analysis at STR Global. “ADR will remain flat and occupancy is expected to fall, bringing RevPAR to Sin$247.60.”