STR releases preliminary August 2016 data for Singapore
STR's preliminary August 2016 data for Singapore indicates solid occupancy levels but negative year-over-year performance.Based on daily data from August, Singapore reported the following in year-over-year comparisons:
LONDON -- STR's preliminary August 2016 data for Singapore indicates solid occupancy levels but negative year-over-year performance.
Based on daily data from August, Singapore reported the following in year-over-year comparisons:
- increases in supply (+5.2%) and demand (+0.9%);
- a 4.1% decrease in occupancy to 85.3%;
- a 2.6% decrease in average daily rate (ADR) to SGD284.09; and
- a 6.6% decrease in revenue per available room (RevPAR) to SGD242.26.
STR analysts note that August has been one of Singapore's strongest months over the last several years, but August 2016 occupancy and ADR were each pressured by the 5.2% increase in supply. The last time supply increased by 5.0% or higher in Singapore was December 2013.
STR will release actual August 2016 results later this month. The August edition of STR's Market Forecast is now available.
About CoStar Group, Inc.
CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible; STR, a global leader in hospitality data and benchmarking; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.
CoStar Group’s websites attracted over 139 million average monthly unique visitors in the fourth quarter of 2025, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.
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