Soft January for Singapore hotels

LONDON Singapore hotels continue to suffer low occupancy levels caused by a strong supply growth in accommodation options, according to STR’s preliminary January  data.

Room supply grew by 3.9% in January, this year, continuing a trend that was evident in the last quarter of 2016.

In contrast demand for rooms increased by a marginal 0.6%.

In its market summary, STR analysts noted that the market continues to struggle from significant supply growth and weak demand performance.

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