It posted a marginal decrease of 0.3 percentage points from last year.
Hotel occupancy rate in Singapore stabilized at 82.1% in the first nine months of 2017 after posting a marginal decrease from last year’s 82.4%, according to Business Travel Pulse released by CWT Solutions Group and CAPA Aviation Centre.
The report added that 41% of occupants booked upscale suites, 25% booked deluxe rooms, 22% booked midscale rooms, whilst 11% booked economy rooms.
Last room available (LRA) rate is also expected to remain flat this year following the trend on occupancy rates.
The report added that buyers have the opportunity to hold rates for another year until market fluctuates again.
This year also registered a series of new hotel openings including the Hilton Garden Inn Singapore Serangoon, Sofitel Singapore City Centre, Andaz Singapore, Novotel Singapore on Stevens, and YOTEL Singapore, Orchard Road.
Do you know more about this story? Contact us anonymously through this link.