Chart of the Day: Hotel market RevPAR dipped slightly by 1.1%

Whilst market occupancy fared better, reaching 85.6%.

This chart from CBRE shows that the overall market occupancy performed better, rising one percentage point to 85.6% for the first four months of the year over the same period last year.

CBRE said this was underpinned by the economy segment as occupancy for those hotels increased 4.9 ppt to 82.0% the period.

The luxury and mid-tier occupancy rates contracted minimally, by less than one percentage point

each, whereas occupancy in the upscale segment grew 2.5 ppt to 88.3%. The growth in upscale occupancy could be a result of operators’ pricing strategy as they reduced rates.

In terms of RevPAR, luxury and economy segments increased 4.4% and 3.6% to $393.40 and $80.74 for YTD April 2017.

Meanwhile, the RevPAR for midtier hotels suffered the most with a contraction of 4.3% to $141.93, due to the lower rates and a drop in occupancy.

Supported by strong occupancy growth, RevPAR for the upscale segment contracted minimally by 1.8% to $222.39. Overall, market-wide, RevPAR decreased by 1.1% to $199.20.

Also Read

Marina Bay Sands targets 2029 completion for major expansion

Jewel Changi celebrates 5 years with 26% footfall increase

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit