News
COMMERCIAL PROPERTY, HOTELS & TOURISM | Staff Reporter, Singapore
view(s)

CDL Hospitality Trust's Singapore RevPAR to end the year with 2% slump

But it will start to rebound in 2018.

Singapore hotels are still a headache for CDL Hospitality Trusts, as they are expected to end the year with 2% lower revenue per available room (RevPAR).

However, RHB said there is no reason to worry, as RevPARs will likely see a rebound starting 2018.

"We expect RevPAR to rebound by 3% and 5% in 2018/2019 key reason being the tapering off hotel supply. An estimated 3,767 rooms (5.9% of inventory) is set to open this year with a supply for 2018 being a minimal 69 rooms," the brokerage firm said.

In the past quarter, CDLHT's occupancy for Singapore hotels improved 4.5ppts to 88.4% while room rates declined 5.9%. RHB is expecting room rates to stabilise and pick up later this year as competitive pressure eases.
 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.