[SINGAPORE] After hitting a record high last year, room rates appear to have softened slightly in the first four months of 2013. But the impact is mitigated by strong occupancies.
Preliminary estimates from the Singapore Tourism Board (STB) show that average room rate (ARR) for the period January to April slipped 2.2 per cent year-on-year to $253.70 while revenue per available room (RevPAR) – a performance indicator – was 2.6 per cent lower at $217.80.
However, the average occupancy rate for the four months held firm, edging down just 0.3 per cent to 86 per cent. Total room revenue collected over this period was virtually flat at $940.5 million.
Still, the strong occupancy is helping to keep any sharp fall in RevPAR at bay. A simultaneous drop in both the ARR and occupancy could impact RevPAR more significantly.
Softer room rates offset by strong occupancies
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