Industry Update
Performance 5 May 2017

Singapore’s hotel market to expand in 2017

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Asia's fiercest global hub looks gain a string of new hotels this year and beyond. Singapore has long been the haunt of wealthy tourists who flock to its shores to experience one of the most advanced cities in the world. A total of 18 new project are planned for Singapore in the coming years, with 12 set to open in 2017, 3 in 2018 and 3 more in 2019.

Singapore ranks 3rd highest on the world's index of per capita income and is known worldwide for its position as a business, finance and transport hub, so it's no wonder that hotel investment continues to be a priority for developers in the area. Over 15 million tourists visited the area in 2014 alone, and that number is sure to have increased over recent years. The 18 planned projects will give a total key count of 4,356, opening up the potential for even more even more visitors. Over half of these projects are nearing completion, with seven more in the pre-opening stages, a good sign for the projected 12 openings this year.

As would be assumed, the majority of these hotels and resorts are at the upper end of the scale, with 11o f the proposed projects ranking in the 5-star sector, while four hotels have 4-stars and the remaining 3 projects set to be 3-star hotels, showing that the market caters for travelers of all demographics. The recently opened refurbishment of the 5-star Concorde Hotel boasts 407 luxury rooms and suites, while the 4-star Ascott Orchard Singapore, a new-build hotel that opened in February this year, welcomes guests into its 220 new rooms, located within the Orchard Road shopping belt.

More information on hotel constructions in Singapore can be found on TOPHOTELPROJECTS, the specialized service provider in the exchange of cutting-edge information of hotel construction in the international hospitality industry.

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