Record-Breaking Performance by Singapore Hotels in 2012
Revenue per Available Room (RevPAR) of hotels surged by 15% to S$212 in 2011, from S$185 in 2010. The stellar RevPAR is driven by a combination of higher average room rate ( ARR) and occupancy rate achieved by hotels in Singapore. ARR of S$245 for 2011 coincides with the previous peak recorded for 2008, and 13% above the S$217 achieved in 2010. On the other hand, the 2011 occupancy rate at 86% broke the previous record of 85% in 2010.
HVS, the world"s leading consulting and services organization focused on the hotel, mixed-use, shared ownership, gaming, and leisure industries, celebrated its 35th anniversary in 2015. Established in 1980, the company performs 4,500+ assignments each year for hotel and real estate owners, operators, and developers worldwide. HVS principals are regarded as the leading experts in their respective regions of the globe. Through a network of more than 35 offices and more than 500 professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. HVS.com