STR Global’s preliminary May 2014 data for
hotels in Singapore indicates negative performance in the three
key performance measures.
Based on daily data from May, hotels in
- increases in supply (+2.6%) and demand
- a 1.0% decrease in occupancy to 81.0%;
- a 0.3% decrease in
- a 1.3% decline in RevPAR to Sin$236.01.
RevPAR in Singapore is expected to increase 3.3% during 2014.
“Occupancy for Singapore remained above 80.0% for the fourth month in a row, despite the decline in this
measure, as supply grew faster than demand in May,” said Elizabeth
Winkle, managing director of STR Global. “For the rest of the
year, occupancy is expected to decline further, while ADR solely
will drive an overall positive RevPAR performance.”
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