Published:
17 new hotels slated to open next year
Additional 4,181 rooms expected.
OCBC forecasts that hotel room supply will grow at 5.8% p.a. for 2013 to 2015, higher than the hotel room demand growth of 5.4% p.a.
Most of the additions to the supply are expected to come by 2014, largely from the mid-tier sector.
Based on the list of hotels in the pipeline obtained from OCBC Investment Research, 5 budget, 7 mid-tier and 5 luxury hotels are opening in 2014.
The list included the extension of 27-year old Raffles Hotel.
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