Singapore: A Market Changed For The Better | HotelNewsNow.com

I’ve just relocated to my first base in Asia, Singapore. Although I’ve previously spent more than two years here, my interaction with the city on a professional basis was limited. More effort was spent on finding all the hidden local eateries with the cheapest (and best) local delicacies. While sipping my morning kopi, I have been contemplating not only the changes to the city, but also its hotel market performance. When I arrived in 2001, the city’s hotel supply was declining in contrast to other Asian markets. Official statistics published by the Singapore Tourism Bureau show that the total number of gazetted hotel rooms had declined from about 30,500 in 2000 to 29,900 in 2003. Over a longer period of time, covering the 16-year period from 1992 to 2008, gazetted hotel supply recorded a marginal annual average growth rate of 1.5 percent.

I’ve just relocated to my first base in Asia, Singapore. Although I’ve previously spent more than two years here, my interaction with the city on a professional basis was limited. More effort was spent on finding all the hidden local eateries with the cheapest (and best) local delicacies. While sipping my morning kopi, I have been contemplating not only the changes to the city, but also its hotel market performance. When I arrived in 2001, the city’s hotel supply was declining in contrast to other Asian markets. Official statistics published by the Singapore Tourism Bureau show that the total number of gazetted hotel rooms had declined from about 30,500 in 2000 to 29,900 in 2003. Over a longer period of time, covering the 16-year period from 1992 to 2008, gazetted hotel supply recorded a marginal annual average growth rate of 1.5 percent.