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Statistics

STR: Positive preliminary metrics for Singapore & Melbourne hotels in February

Author: Angelos Restanis / Date: Tue, 03/13/2018 - 10:28
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The absolute occupancy level would be the highest for a February in Singapore since 2012, and the year-over-year ADR increase is first for any month in the country since February 2016.

LONDON - STR’s preliminary February 2018 data for hotels in Singapore indicates significant occupancy levels and higher room rates, while for hotels in Melbourne, Australia, indicates growth across the key performance metrics. . 

Based on daily data from February, Singapore reported the following in year-over-year comparisons:

  • Supply: +5.2%
  • Demand: +5.6%
  • Occupancy: +0.4% to 86.0%
  • Average daily rate (ADR): +4.7% to SGD286.56
  • Revenue per available room (RevPAR): +5.2% to SGD246.52

The absolute occupancy level would be the highest for a February in Singapore since 2012, and the year-over-year ADR increase is first for any month in the country since February 2016. 

Based on daily data from February, Melbourne reported the following in year-over-year comparisons:

  • Supply: +2.2%
  • Demand: +3.5%
  • Occupancy: +1.2% to 88.8%
  • Average daily rate (ADR): +0.3% to AUD191.08
  • Revenue per available room (RevPAR): +1.5% to AUD169.72

STR analysts note that the month looks to be Melbourne’s first February with strictly positive year-over-year comparisons since 2015. Increased domestic travel could be suggested as a reason behind the summer season performance, as household income and spending are each up, according to the Australian Bureau of Statistics.

In addition to demand catching up with significant supply growth, STR analysts see a stabilizing economy and expected GDP growth as possible reasons behind the performance. 

STR will release full February results later this month.

ABOUT THE AUTHOR

Angelos Restanis

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.