singapore hotel performance
Eras Tour Led to March Records for Singapore Hotels
CoStar Group | April 10, 2024
WASHINGTON – 10 April 2024 – The host of six Taylor Swift concerts, Singapore’s hotel industry posted its highest March average daily rate (ADR) and revenue per available room (RevPAR) on record, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. March 2024 (year-over-year % change): Occupancy: 79.1% (+5.1%) Average daily rate (ADR): SGD358.91 (+12.7%) Revenue per available room (RevPAR): SGD284.03 (+18.5%) Historically, Q1 and Q2 daily occupancy levels are lower post-Chinese New Year and prior to events pick...
In Focus: Singapore
Hok Yean CHEE | August 31, 2023
The Republic of Singapore is a metropolitan city-state and island country in Southeast Asia with a total land area of approximately 714.3 square kilometres. It is situated at the southern tip of the Malayan Peninsula, between Malaysia and Indonesia. With an economy supported by its growing population of approximately 5.6 million people, Singapore has witnessed a remarkable record of sustained economic growth throughout the years and bolstered its role as a global commerce, finance and transportation hub. Due to the high inflation and uncertain global outlook, Singapore's overall economy grew by 3.5% in 2022. Further decrease in Gross D...
Taylor Swift, Coldplay and the Rotary Convention: Singapore Hotel Bookings Jump for Eventful First Half of 2024
STR | July 31, 2023
Analysis by Jesper Palmqvist, Senior Director – Asia Pacific There is plenty of time remaining in 2023, but Singapore’s hotel bookings are already increasing rapidly for 2024 with the market set to host several major events early in the year. Utilizing Forward STAR data, we took a quick look at the specific impact for Singapore’s hotels from Taylor Swift’s “The Eras Tour”, Coldplay and the global Rotary Convention. Taylor Swift “The Eras Tour” is in the lead Taylor Swift shows are set to take place on 2-4 and 7-9 March 2024 at Singapore National Stadium. As of 17 July 2023, the star performer’s tour dates had already ...
