Thứ Ba, 5 tháng 8, 2014

Singapore hotel occupancy drops in second quarter: property trust

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Singapore hotel occupancy drops in second quarter: property trust

SINGAPORE, Aug. 5 (Xinhua) — A Singapore-focused hotel and serviced residence property trust said on Tuesday that the average occupancy at its hotels in the second quarter dropped, amid a decline in tourist arrivals from China.

The average occupancy at the hotels under the Far East Hospitality Trust, including Rendezvous Hotel and Village Hotel Albert Court, dropped to 80.1 percent in the quarter ended June 30, compared with 87.7 percent in the same period a year ago.

The average daily rate also dipped to 188 Singapore dollars ( 150.4 U.S. dollars) from 191 Singapore dollars (152.8 U.S. dollars) a year ago.

The trust said that companies continued to restrain their travel spending as a result of the lingering macroeconomic uncertainties.

“Leisure travel demand was also impacted by regional events,” said Far East Hospitality.

“In particular, arrivals from China, Singapore’s second largest visitor market, was affected by the imposition of a new restriction by the Chinese government on shopping tours and a decline in demand for Singapore-Malaysia-Thailand tour packages,” it added.

Visitor arrivals in Singapore from China in the first five months of this year fell by 27.4 percent year on year, according to statistics of the Singapore Tourism Board.

The trust said it expects the operating environment for the Singapore hospitality market to remain relatively competitive.

The reduced business travel spending amid the protracted recovery of the global economy, and potential weakness in visitor arrivals could continue to weigh on the accommodation demand in the near term, it said.

Copyright 2014 Xinhua News Agency.

Xinhua is China’s state-run news agency.

All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Copyright 2014 GlobalPost – International News

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Singapore hotel occupancy drops in second quarter: property trust

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