STR Global releases preliminary November 2014 data for Singapore and Sydney

Singapore reported increases in supply (+2.0 percent) and demand (+2.6 percent) while Sydney reported increases in supply (+1.0 percent) and demand (+1.2 percent).

LONDON – STR Global’s preliminary year-over-year November data for Singapore indicates slight negative revenue-per-available-room decline.

Based on daily data from November, Singapore reported:

increases in supply (+2.0 percent) and demand (+2.6 percent);
a 0.6-percent increase in occupancy to 85.3 percent;
a 1.3-percent decrease in average daily rate to SGD294.98; and
a 0.7-percent decrease in RevPAR to SGD251.65.

A 1.7-percent increase in RevPAR is expected in 2015.

“Singapore continued to report high occupancy levels in excess of 85 percent for the month, while ADR was causing the decline in overall hotel performance, coming from a high base”, said Elizabeth Winkle, managing director of STR Global. “After a projected 1.8-percent RevPAR growth for 2014, we forecast another 1.7-percent increase in 2015, purely driven by rate, as occupancy is expected to decline”.

Based on daily data from November, Sydney reported:

increases in supply (+1.0 percent) and demand (+1.2 percent);
a 0.2-percent increase in occupancy to 90.4 percent;
a 5.4-percent increase in average daily rate to AUD221.89; and
a 5.7-percent increase in revenue per available room to AUD200.51.

A 2.2-percent increase in RevPAR is expected in 2015.

“Sydney achieved occupancy levels in excess of 90 percent for the second month this year, translating into strong ADR growth, and pushing RevPAR levels to new heights of any November since 1995”, said Elizabeth Winkle. “After a projected 3.7-percent RevPAR increase in 2014, we are forecasting another 2.2-percent growth in RevPAR, equally driven by growing occupancy and ADR levels”.

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