LONDON -- STR's preliminary February 2018 data for hotels in Singapore indicates significant occupancy levels and higher room rates.

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

  • Supply: +5.2%
  • Demand: +5.6%
  • Occupancy: +0.4% to 86.0%
  • Average daily rate (ADR): +4.7% to SGD286.56
  • Revenue per available room (RevPAR): +5.2% to SGD246.52

The absolute occupancy level would be the highest for a February in Singapore since 2012, and the year-over-year ADR increase is first for any month in the country since February 2016.

In addition to demand catching up with significant supply growth, STR analysts see a stabilizing economy and expected GDP growth as possible reasons behind the performance.

STR will release full February results later this month. The January edition of STR's Market Forecast and the 2017 Global Hotel Study are now available.

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