STR Global’s preliminary November data for Singapore indicates negative performance in all three key performance measures.
Based on STR Global daily data from November, preliminary data for Singapore includes:
• increases in supply (+5.6 percent) and demand (+3.9 percent);
• a -1.7-percent decrease in occupancy to 84.9 percent;
• a -0.5-percent decrease in average daily rate to SGD297.57;
• a -2.2-percent decline in revenue per available room to SGD252.54; and
• RevPAR is expected to increase by +3.7 percent in 2014.
“While absolute occupancy is very high in the mid-80 percent, 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”.
STR Global will release November 2013 results in two weeks. The November 2013 edition of the STR Global Hotel Market Forecast is available now.
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.
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