Singapore hotels feel the squeeze as corporate budgets tighten | reuters.com

The best may be over for Singapore's booming hotel market as tightening corporate budgets and bank job cuts leave more luxury rooms empty, crimping profits at firms such as CDL Hospitality Trusts. Singapore runs neck-and-neck with Hong Kong for the title of the world's busiest hotel market, with both boasting occupancy rates that exceeded 85 percent for 2011, according to the two cities' tourism boards.