01 Aug '16, 7am

Upscale and mid-tier hotels best performing sectors in Singapore:

- The first five months of 2016 saw upscale and mid-tier hotel segments faring the best with Revenue per Average Room rates increasing. Upscale hotels recorded a growth of 2.1 per cent to S$225.64 from January to May 2016 for Revenue per Available Room. RevPAR measures the total hotel room revenue divided by the total rooms available to rent for a day or range of dates and is the industry’s best measure of revenue growth for hotels as it provides insight into how well a hotel is utilizing its room inventory. RevPAR for the economy segment decreased 0.9 per cent to S$78.24 for the first five months of 2016. Overall, RevPAR dipped 0.7 per cent to S$200.37 over the same period. These were the key observations in CBRE Hotels’ MarketView Report H1 2016.

Full article: http://www.cbre.com.sg/aboutus/mediacentre/mediaarchives/...

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