LONDON -- STR's preliminary July 2016 data for Singapore indicates steady performance.

Based on daily data from July, Singapore reported the following in year-over-year comparisons:

  • increases in supply (+4.3%) and demand (+5.5%);
  • a 1.2% increase in occupancy to 88.3%;
  • a 0.5% decrease in average daily rate (ADR) to SGD277.45; and
  • a 0.6% increase in revenue per available room (RevPAR) to SGD245.11.

STR analysts attribute the 88.3% absolute occupancy level to coinciding events in the market: Singapore International Water Week (10-14 July) and the World Cities Summit (10-14 July).

STR will release actual July 2016 results during the week of 22 August. The August edition of STR's Market Forecast will be available at the end of the month.

A note to editors: As of 1 March 2016, all references to STR data and analysis should cite "STR" as the source. Please refrain from citing "STR, Inc." "Smith Travel Research" or "STR Global" in sourcing as those names no longer fit within the updated STR brand.

About STR

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.

Naureen Ahmed
Manager, Marketing & Analysis
STR