Singapore: Flat hotel performance

LONDON  STR Global’s preliminary data for January indicates Singapore had a relatively flat revenue-per-available-room performance.
Based on daily data from January, Singapore reported increases in supply of 2.4% and demand plus 2.3%.
There was a 0.1% decrease in occupancy to 79.5%; a 0.7% decrease in average daily rate to SGD294.68; and a 0.8% decrease in RevPAR to SGD237.95.
inside no 7“Singapore had a flat negative start to the year, reporting minor drops in the three key performance measures, however, this is coming from a high base,” said STR Global managing director, Elizabeth Winkle.
“Supply and demand both continued to grow above 2.0%, while the former outpaced demand for the first time in the last three months.”
STR Global will release January 2015 results in two weeks. The February edition of the STR Global Hotel Market Forecast will be available by the end of this month.

sourced:ttrweekly.com