STR Reports Preliminary February 2015 Data for Hotels in Singapore

STR Global’s preliminary February 2015 data for hotels in Singapore indicates negative RevPAR performance.

Based on daily data from February, hotels in Singapore reported:

- an increase in supply (+2.0%) and a decrease in demand (-3.2%);
- a 5.1% decrease in occupancy to 83.9%;
- a 9.5% decrease in ADR to Sin$289.19;
- a 14.1% decrease in RevPAR to Sin$242.74; and
- a 1.3% increase in RevPAR is expected in 2015.

“Singapore reported declines in both occupancy and ADR, off the back of the biennial Singapore Airshow, where hotels traditionally see the impact on rates,” said Elizabeth Winkle, managing director of STR Global. “The outlook remains positive for 2015, with supply expected to grow slightly faster than demand, but the increases in rate are most likely to overcome flat declines in occupancy.”