STR: Preliminary June data for Singapore hotels
Based on daily data from June, Singapore reported the following in year-over-year comparisons:
- Supply: +3.7%
- Demand: +9.3%
- Occupancy: +5.5% to 83.1%
- Average daily rate (ADR): +1.7% to SGD262.60
- Revenue per available room (RevPAR): +7.2% to SGD218.23
The RevPAR increase was the highest for any month in Singapore since February 2014. Growth in demand (room nights sold) was the highest for a June since 2010. STR analysts note that the North Korea and U.S. summit held on 12 June boosted demand with an influx of delegates and media members in the country.
STR will release full June results later this month. The May edition of STR's Market Forecast is available now for Singapore and a host of other markets across the globe.
Media & Communications Coordinator - STR
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 16 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.