STR Reports Preliminary January 2015 Data from Hotels in Singapore

According to STR Global’s preliminary January 2015 data, hotels in Singapore experienced a relatively flat RevPAR performance during the month.

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

• increases in supply (+2.4 %) and demand (+2.3 %);

• a 0.1% decrease in occupancy to 79.5 %;

• a 0.7% decrease in ADR to Sin$294.68;

and • a 0.8% decrease in RevPAR to Sin$237.95.

“Singapore had a flat negative start to the year, reporting minor drops in the three key performance measures, however coming from a high base,” said Elizabeth Winkle, managing director of STR Global. “Supply and demand both continued to grow above 2%, while the former outpaced demand for the first time in the last three months.”