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Singapore room rates at decade high
Thursday, 05 Sep, 2022
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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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