STR Global releases preliminary January 2014 data for Singapore
STR Global?s preliminary January data for Singapore indicates negative results for the three key performance metrics.
Based on STR Global daily data from January, preliminary data for Singapore includes:
* increases in supply (+3.5 percent) and demand (+2.4 percent);
* a 1.1-percent decrease in occupancy to 80.0 percent;
* a 0.1-percent decrease in average daily rate to SGD295.95; and
* a 1.1-percent decrease in revenue per available room to SGD236.86.
?Singapore continued its negative growth in overall RevPAR performance in January, for the third consecutive month?, said Elizabeth Winkle, managing director of STR Global. ?ADR remained flat compared to the same month last year, while occupancy declined. Over the past two years, however, Singapore has performed phenomenally well in all metrics and we are seeing these declines as a return to normal performance?.
STR Global will release January 2014 results in two weeks. The next edition of the STR Global Hotel Market Forecast will be available by the end of February.