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STR: Preliminary December data for Melbourne and Singapore hotels

December 2017 data for hotels in Melbourne, Australia, indicates significant performance levels, while data for hotels in Singapore indicates slight occupancy growth with lower room rates.

LONDON – STR’s preliminary December 2017 data for hotels in Melbourne, Australia, indicates significant performance levels, while data for hotels in Singapore indicates slight occupancy growth with lower room rates.

Melbourne reported the following in year-over-year comparisons:

  • Supply: +2.3%
  • Demand: +3.2%
  • Occupancy: +0.8% to 81.8%
  • Average daily rate (ADR): +2.1% to AUD192.94
  • Revenue per available room (RevPAR): +3.0% to AUD157.80

Singapore reported the following in year-over-year comparisons:

  • Supply: +5.1%
  • Demand: +5.5%
  • Occupancy: +0.3% to 76.0%
  • Average daily rate (ADR): -2.1% to SGD275.02
  • Revenue per available room (RevPAR): -1.8% to SGD209.01

Due to supply growth, occupancy was nearly flat year over year despite a significant rise in demand. ADR declined for the 22nd consecutive month, and absolute RevPAR was the lowest for a December in Singapore since 2009. STR analysts note that Singapore’s performance continued to be pressured as new supply brings tighter competition into the market.

STR will release full December and total-year 2017 results later this month. The January edition of STR’s market forecast will be available by the end of the month.

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Angelos is the news editor for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). His role includes to monitor the hundrends of news sources of TravelDailyNews Media Network and skim the most important according to our strategy. He currently studies Communication, Media & Culture in Panteion University of Political & Social Studies of Athens.

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