News

Hotels & Tourism

Staff Reporter

, Singapore

Published:

12 years ago

Analyst says these sectors are enjoying from “Singapore’s draw as a new playground in Asia”.

It’s extended playtime for tourism and hospitality

Analyst says these sectors are enjoying from “Singapore’s draw as a new playground in Asia”. They are said to be expected to hit new highs in 2011.

AmFraser Research noted:

We see tourism and hospitality sectors benefiting from Singapore’s draw as a new playground in Asia with the two integrated resorts and theme parks. Tourist arrivals hit new highs of 3.12 million in 1Q2011 registering a healthy 15.7% y-o-y growth and projected to grow to 13 million for whole of 2011. Tourism Receipts (TR) for 1Q2011 was estimated to reach S$4.98 billion registering a 35.7% year-on-year growth.

Hotels have also benefited with average occupancy hitting 85% and Average Room Rate stood at $226 in 1Q2011, a 13.9% y-o-y growth. Revenue per room climbed 15.7% to S$191 in the 1Q2011 and projected to grow by another 10-15% in the current year.

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