Preliminary December 2013 Data for Singapore Hotels Shows Flat or Negative Performance

STR Global’s preliminary December data for Singapore indicates flat or negative performance for the three key performance measures.

Based on STR Global daily data from December, preliminary data for Singapore shows:

• increases in supply (+5.0%) and demand (+3.0%);

• a -1.9% decrease in occupancy to 79.0%;

• a 0.0% growth in average daily rate to Sin$298.56;

and • a -2.0-percent decline in revenue per available room to Sin$235.75.

“Singapore is closing a year with ups and downs in terms of hotel performance posting negative growth in RevPAR in December,” said Elizabeth Winkle, managing director of STR Global. “While ADR remains flat compared to last year, occupancy fell to the lowest level since 2009, impacted by the additional supply coming into this market.”