RevPAR in Singapore Expected to Increase 3.3% During 2014

STR Global’s preliminary May 2014 data for hotels in Singapore indicates negative performance in the three key performance measures.

Based on daily data from May, hotels in Singapore reported:

- increases in supply (+2.6%) and demand (+1.6%);
- a 1.0% decrease in occupancy to 81.0%;
- a 0.3% decrease in ADR to Sin$291.40; and
- a 1.3% decline in RevPAR to Sin$236.01.

RevPAR in Singapore is expected to increase 3.3% during 2014.

“Occupancy for Singapore remained above 80.0% for the fourth month in a row, despite the decline in this measure, as supply grew faster than demand in May,” said Elizabeth Winkle, managing director of STR Global. “For the rest of the year, occupancy is expected to decline further, while ADR solely will drive an overall positive RevPAR performance.”