Check out how hotels innovate, from a ‘keyless’ room feature to check-in kiosks.
Amidst increasing challenges related to softer operating conditions and increased levels of competition and new supply, hoteliers in Singapore knew that refurbishments to the hotel infrastructure alone are not sufficient to maintain a competitive edge.
Data from Savills show that hotel’s occupancy as at June 2015 dropped by 2.5% compared to a year ago while the average daily rate was down to 4.5%. As a result, profitability as measured by revenue per available room tumbled by 6.9%.
According to Rachel Grier, IDeaS managing director in APAC, given the challenging operating conditions faced by local hoteliers, coupled with the fact that in the Asia Pacific region there are 2,363 hotels under contract to be opened in the coming years, it is vital that Singaporean hoteliers implement advanced operating processes and technologies to maximise revenue in times of growing competition and dynamic marketplaces.
Singapore alone anticipates the opening of Patina, Capitol Singapore, South Beach and Hotel Boss soon.
As such, Singapore Business Review look into various strategies hoteliers currently employ to stay upbeat in down times.
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