LONDON -- STR's preliminary December 2017 data for hotels in Singapore indicates slight occupancy growth with lower room rates.

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

  • Supply: +5.1%
  • Demand: +5.5%
  • Occupancy: +0.3% to 76.0%
  • Average daily rate (ADR): -2.1% to SGD275.02
  • Revenue per available room (RevPAR): -1.8% to SGD209.01

Due to supply growth, occupancy was nearly flat year over year despite a significant rise in demand. ADR declined for the 22nd consecutive month, and absolute RevPAR was the lowest for a December in Singapore since 2009. STR analysts note that Singapore's performance continued to be pressured as new supply brings tighter competition into the market.

STR will release full December and total-year 2017 results later this month. The January edition of STR's market forecast will be available by the end of the month.

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.

Alex Anstett
Media & Communications Coordinator - STR
STR