Singapore Hotels Experience Decline in ADR and RevPAR in November 2014

According to STR Global’s preliminary year-on-year data, hotels in Singapore experienced small drops in ADR and RevPAR in November 2014.

Based on daily data from November 2014, hotels in Singapore reported:

- Increases in supply (+2.0%) and demand (+2.6%);
- 0.6% increase in occupancy to 85.3%;
- 1.3% decrease in ADR to Sin$294.98; and
- 0.7% decrease in RevPAR to Sin$251.65.

“Singapore continued to report high occupancy levels in excess of 85% for the month, while ADR was causing the decline in overall hotel performance, coming from a high base,” said Elizabeth Winkle, managing director of STR Global. “After a projected 1.8% RevPAR growth for 2014, we forecast another 1.7% increase in 2015, purely driven by rate, as occupancy is expected to decline.”