Coldplay concerts drove Singapore hotel performance in January, Taylor Swift up next in March
Helped by Coldplay’s World of the Spheres Tour, Singapore hotels saw healthy performance growth, according to preliminary January data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Helped by Coldplay’s World of the Spheres Tour, Singapore hotels saw healthy performance growth, according to preliminary January data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
January 2024 (year-over-year % change):
- Occupancy: 72.8% (+9.6%)
- Average daily rate (ADR): SGD334.46 (+3.3%)
- Revenue per available room (RevPAR): SGD243.55 (+13.2%)
Singapore posted its highest daily occupancy levels toward the end of the month, helped by six Coldplay performances that took place between 23-31 January. The market’s highest occupancy levels (91.3%) were seen on Thursday, 25 January, and Friday, 26 January.
The market is expected to see another wave of high occupancy levels with Taylor Swift’s Eras Tour taking place 2-4 and 7-9 March. Forward STAR data shows occupancy on the books already as high as 72% on opening night. For more information about the company and its products and services, please visit www.costargroup.com.