STR Global’s preliminary July data for Singapore indicate positive performance in the three key performance measures.
Based on daily data from July, Singapore reported:
- increases in supply (+1.8 percent) and demand (+4.4 percent);
- a 2.5-percent increase in occupancy to 87.4 percent;
- a 1.3-percent increase in average daily rate to SGD288.95; and
- a 3.9-percent growth in revenue per available room to SGD252.41.
“Singapore reported increases in occupancy performance, achieving levels in the excess of 80 percent for the fifth month in a row”, said Elizabeth Winkle, managing director of STR Global. “ADR grew moderately for the month, resulting in an overall positive RevPAR performance, following two months of declines in this measure”.
STR Global will release July 2014 results in two weeks. The August edition of the STR Global Hotel Market Forecast will be available by the end of this month.
About STR Global:
STR Global provides clients-including hotel operators, developers, financiers, analysts and suppliers to the hotel industry-access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, segmentation data, forecasts, annual profitability, pipeline and census information. Hotel operators can join the surveys on a complimentary basis and benefit from free industry data. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics and Hotel News Now. For more information, please visit www.strglobal.com.
Logos, product and company names mentioned are the property of their respective owners.
Singapore Hotels Report Positive Performance for July 2014