Slew of new hotels opening this year

10 hotels are opening adding 2,456 more rooms.

Based on CBRE data, a total supply of 5,480 hotel rooms are under construction, implying a further 13% expansion in supply over 2013-2014 or CAGR of 5.5% over the same period. DBS Group Research said that his is equivalent to an additional 2.3m room nights.

In terms of completion timeline, a majority of the rooms opening in 2012 are in Sentosa, which should be well supported given the surge in visitations to the island since the opening of Resorts World @ Sentosa and Universal Studios.

The island saw close to 19m (+7.3% y-o-y) visitors in 2011 and the Sentosa Development Corporation aims to attract close to 20m visitors in 2012.
The remaining 5,480 rooms will complete over 2013/2014 and a majority will be located in the Rest of Central Region and Downtown Core (65% of total incoming supply). In terms of hotel tiers, close to 46% are mid-tier hotel brands while 22% are upscale hotels.

More hotel rooms planned. The Singapore government continues to encourage developers/hoteliers to invest in the hospitality sector through offering more available hotel sites for tender. Based on the latest 2H12 land tender details, a total 6 hotel sites are available for tender on the reserve list. If successfully tendered, these rooms coupled with the additional 3,810 rooms currently planned for development, should come onstream in the longer term to support the growth of the hospitality sector from 2015 and beyond.

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