Hotel room supply to grow 4% this year

This is lower than the 5.9% projection last quarter.

Citing a report from Horwath, analysts at OCBC Investment Research said Singapore's hotel room supply is expected to grow by 4% this year.

However, the expected growth moderated from last quarter's 5.9%.

For next year, the analysts said room supply may expand by 1.7%.

"We believe this may put a slight damper on the RevPAR rebound we expect in 2018," lead analyst Deborah Ong said.

Meanwhile, the analysts expect leisure demand to remain healthy into next year.

"Note that corporate demand seems to remain weak albeit slightly better compared to last year. We see the strength of corporate demand as the key variable going into 2018," Ong said.

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