RevPAR drops 5.5% You in May

This was driven by the post-’Taylor Swift effect’ normalisation.

Singapore’s revenue per available room (RevPAR) dropped 5.5% year-on-year (YoY) in May, Colliers reported.

Colliers attributed this drop in part to the post-‘Taylor Swift effect’ normalisation.

In APAC, Australia and South Korea posted declines of 3.4%, and 2.4%, respectively.

Meanwhile, the top performing markets in terms of RevPAR were New Delhi (21.2%), Phuket (19.3%), Tokyo (18.8%), Mumbai (16.5%), and Ho Chi Minh City (14.6%).