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.
About HVS
HVS, the world's leading consulting and services organization focused on the hotel, mixed-use, shared ownership, gaming, and leisure industries, was established in 1980. The company performs 4,500+ assignments each year for hotel and real estate owners, operators, investors, banks and developers worldwide. HVS principals are regarded as the leading experts in their respective regions of the globe. Through a network of some 60 offices and more than 300 professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. hvs.com.