Singapore room rates at decade high

Friday, 05 Sep, 2022 0

Singapore hotels’ average room rate was up to a near-decade high in July, as post-Covid demand continues to rise for the sixth consecutive month.

Average room rate in July was S$259 which is the highest since September 2012, the Singapore Tourism Board (STB) says.

It marks a 7.7% month on month increase.

Hotel revenues passed $300million for July, up four-fold from a year ago.

The increase in industrywide room revenue – which also rose month on month against $297 million in June – came as visitor arrivals surged to 726,601 in July, from 543,733 in the previous month.

Revenue per available room (RevPAR) hit a a post-pandemic record of $204.99 and average occupancy rates increased to 79%.

 

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Ray Monty



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