Hotels in Singapore Report Decline in RevPAR; Positive Trend for Sydney

STR Global’s preliminary June 2014 data for hotels in Singapore indicates negative performance in the three key performance measures. Based on daily data from June, hotels in Singapore reported:

- increases in supply (+2.8%) and demand (+0.2%);
- a 2.5% decrease in occupancy to 82.5%;
- a 1.5% decrease in ADR to Sin$291.79; and
- a 4.0% decline in RevPAR to Sin$240.85.

“Singapore continued to post occupancy levels in excess of 80%, despite the additional supply coming into the market on top of flat demand growth for the month,” said Elizabeth Winkle, managing director of STR Global. “ADR saw the first notable declines in 2014, contributing to the fastest RevPAR declines since July 2013 for the market.”

Positive Trend for Sydney

Based on daily data from June 2014, hotels in Sydney reported:

- increases in supply (+1.2%) and demand (+5.0%);
- a 1.5% increase in occupancy to 78.1%;
- a 2.8% growth in ADR to A$187.50; and
- a 4.3% increase in RevPAR to A$146.20.

“Demand has continued to grow faster than supply since May 2013, resulting in a positive trend for overall occupancy performance,” said Ms. Winkle. “ADR growth remained strong, pushing RevPAR to the highest level in 19 years, when STR Global began tracking hotel performance for the market.”