Singapore revPAR dips in November

By Mark Elliott On Dec 16, 2013

TD Guest Writer

Guest Writers are not employed, compensated or governed by TD, opinions and statements are from the specific writer directly

Singapore's occupancy is still in the mid-80% range — Singapore’s occupancy is still in the mid-80% range

Singapore’s hotels suffered a slight downturn in performance in November 2013.

According to the latest data from STR Global, the country’s hotels experienced a 2.2% drop in revPAR (revenue per available room) last month, to SG$252.54 (approximately US$201). The result was driven by a 1.7% drop in occupancy levels, to 84.9%, and a 0.5% dip in average daily rates (ADR), to SG$297.57.

“While absolute occupancy is very high in the mid-80% [range], decline in occupancy was primarily responsible for the negative trend in revPAR, reporting the lowest levels for November since 2009,” said Elizabeth Winkle, managing director of STR Global.

“With additional supply coming into the market, occupancy is expected to decline further, while ADR will drive the positive RevPAR performance in 2014,” she added.

Singapore is now expected to end the year with a 3.7% drop in revPAR, compared to 2012.

EXPERT OPINION

STR Global