Singapore hotel room revenues up 27.8% to S$2.6b
But which sector was the top performer in terms of RevPAR growth?
According to a release, gazetted hotel room revenue for 2011 came in at an estimated S$2.6 billion, representing a 27.8% year-on-year growth.
Average Room Rate (ARR) stood at S$245 in 2011, a year-on-year increase of 13%. Room rates for all hotel tiers increased, with the Upscale tier posting the highest growth rate at 14%. Average Occupancy Rate (AOR) reached 86% in 2011.
Robust performance in ARR and AOR resulted in a 15% growth in Revenue Per Available Room (RevPAR), which stood at S$212 in 2011. The Upscale tier was the top performer in terms of RevPAR growth.
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Tags: Singapore hotel room revenue, Singapore hotels Revenue Per Available Room growth, Singapore hotels
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