Singapore hotel sector slides in December

ADR declines for 10th consecutive month and occupancy lowest since December 2009

Hotels in Singapore's CBD
Hotels in Singapore’s CBD

Hotels in Singapore reported declining occupancy and rates in December 2016.

The latest preliminary data from STR shows that citywide occupancy fell 2.0% to 77.2% last month, which marked the lowest December occupancy in Singapore since 2009.

Average daily rate (ADR) fell 2.7% to SG$281.70 (approx. US$196), marking the 10th consecutive month of year-over-year declines.

STR noted that Singapore’s hotel sector is struggling with a supply-demand imbalance, and the city hosting fewer major events. Despite this, Singapore’s revPAR of about US$150 remains approximately double the regional average for the Asia Pacific.

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