, Singapore

Hotel supply to grow 2% in 2019

Expansion of Marina Bay Sands and Resorts World Sentosa to boost the sector.

The total existing hotel supply is anticipated to grow by 2% or an additional 1,400 rooms by the end of 2019, according to a report by JLL. There are currently over 68,000 hotel rooms in the city.

The tourism sector in the city is expected to have a boost in the medium to long term, given the expansion of Marina Bay Sands and Resorts World Sentosa, the completion of an eco-tourism hub in Mandai by 2023, and the development of the Greater Southern Waterfront announced August that will include private and public accommodations, offices, entertainment attractions and resort.

The compound annual growth rate (CGR) for hotel supply is expected to slow to 0.7% from end-2019 to end-2022, from 4.2% during end-2015 to end-2018.

The market-wide revenue per available room (RevPAR) stayed at $186 in year-to-date (YTD) July 2019, according to the Singapore Tourism Board (STB). Occupancy reached 93.8%, the highest ever recorded by STB.

Also read: Hotel RevPAR hits $273.25 for 12 months ending July

RevPAR for upscale and midscale & economy hotels rose 1.2% during the same period, but luxury hotels posted a 1.5% fall.

Transaction volume for hotel investments in Singapore totalled $1.7b for YTD September 2019.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


How investor stewardship puts companies in a win-win state
Stewardship Asia Centre CEO says a company’s failure to take care of society is a failure to take care of its stakeholders.
Creating harmony in a heterogonous workforce 
An HR expert said tests like DISC can help identify which employees can work best together.