Singapore's Hotels Get a 'Crazy Rich Asians' Boost
After Singapore's residential and office markets made comebacks, the next property sector to bet on might just be its hotels.
The hotel industry is heading into 2019 in good shape after boosts to visitor arrivals from the Trump-Kim summit and the romantic comedy "Crazy Rich Asians." Average occupancy rates touched 87 percent this year, the highest in a decade, property firm Cushman & Wakefield Inc. said.
Singapore's hospitality sector is in a "sweet spot," according to Vijay Natarajan, an analyst at RHB Research Institute Singapore Pte. His top pick is CDREIT:SP" title="Company Overview" target="_blank" rel="noopener">CDL Hospitality Trusts, a real estate investment trust.
Occupancy rates climbed across luxury, upscale, mid-tier and economy rooms. Revenue per available room rose 4 percent to S$190.40 ($141) through October from a year earlier, reversing years of declines. Average daily room rates inched higher for all but luxury accommodation.
