STR Global’s preliminary January 2016 data for Singapore’s hotel market indicates significant occupancy levels.
Based on daily data from January, Singapore reported:
- increases in supply (+2.5%) and demand (+7.7%);
- a 5.1% increase in occupancy to 82.2%;
- a 3.8% decrease in average daily rate to SGD282.68; and
- a 1.0% increase in revenue per available room to SGD232.27.
Singapore’s demand growth doubled from December, driving occupancy to its highest absolute level for any January on record in the market.
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