Here’s why hoteliers are still losing sleep despite rising tourist numbers

Hotel occupancy dipped to 78.2% in May.

While the city-state's tourist numbers have doubled in the past few months, hoteliers can't celebrate just yet, as a flurry of massive supply is set to enterthe market in the next 2-3 years.

According to a report by CBRE Research, ADRs and occupancy have dipped, and hotel performance will still be a concern.

"However, should visitor numbers continue trending upwards, this pace of growth will help alleviate some additional supply pressure," the report noted.

Additionally, CBRE said the stable exchange rate vis-a-vis regional currencies will also support outbound tourists from neighbouring countries.

Meanwhile, headwinds in the global economy could deter leisure and corporate travel demand, but the real impact of Brexit is yet to be determined.

"Brexit could spin off some positive consequences for arkets like Singapore. With strong and stable fundamentals, Singapore's hotel market can be a potential beneficiary for injection of fresh capital inflows," the report added.

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