Hotel occupancy rates reach 20-year peak

Record tourist arrivals in the first quarter pushed hotel occupancy rates to 88.5%.

The Monetary Authority of Singapore reported:

Tourism-related services grew strongly in Q1 2012 after recording flat growth the quarter before. Notably, tourist arrivals reached a record 3.6 million, supported by healthy inflows from China, Indonesia and the NIEs. Correspondingly, hotel occupancy rates reached its 20-year peak of 88.5%, higher than the average of 86.5% in 2011.

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