Hotels in Singapore Report ADR and RevPAR Decreases in October 2014

According to STR Global’s preliminary year-on-year October 2014 data, hotels in Singapore experienced negative performance in three key performance measures. Based on daily data from October 2014, Singapore reported:

- increases in supply (+2.6%) and demand (+1.2%);
- a 1.3% decrease in occupancy to 84.6%;
- a 1.6% decrease in ADR to Sin$296.95; and
- a 2.9% decrease in RevPAR to Sin$251.36.

“Whilst the city saw declines in three of their performance metrics, Singapore still managed to maintain high levels of hotel performance,” said Elizabeth Winkle, managing director of STR Global. “Supply and demand still grew this month. With the exception of January this year, all months achieved occupancy levels above 80%. ADR is showing a decline, but it is only a Sin$4.00 drop in rate year-on-year.”