Occupancy in Singapore improved in comparison with a weaker August 2016, which came amid concerns of a Zika outbreak in the country.
LONDON – STR‘s preliminary August 2017 data for hotels in Melbourne, Australia, indicates steady performance, while in Singapore indicates occupancy growth with lower rates.
Based on daily data from August, Melbourne reported the following in year-over-year comparisons:
- Supply: +3.2%
- Demand: +5.8%
- Occupancy: +2.5% to 85.1%
- Average daily rate (ADR): flat at AUD176.51
- Revenue per available room (RevPAR): +2.5% to AUD150.22
Melbourne’s hotel demand (rooms sold) continues to exceed steady supply (rooms available) growth. STR analysts note, however, that the additional supply is affecting the market’s room prices, as shown in the flat rate performance for the month. Nonetheless, the RevPAR increase is the first for an August in Melbourne since 2013.
Based on daily data from August, Singapore reported the following in year-over-year comparisons:
- Supply: +1.5%
- Demand: +3.2%
- Occupancy: +1.7% to 85.9%
- Average daily rate (ADR): -3.3% to SGD272.96
- Revenue per available room (RevPAR): -1.7% to SGD234.52
Occupancy improved in comparison with a weaker August 2016, which came amid concerns of a Zika outbreak in the country. However, ADR declined for the 18th consecutive month, due primarily to economic struggles in the country, according to STR analysts.
Tatiana is the news co-ordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes to monitor the hundrends of news sources of TravelDailyNews Media Network and skim the most important according to our strategy. She holds a Bachelor degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
