Singapore hotels maintained performance in F1 month: STR

STR Global last week released preliminary September data for Singapore, indicating mixed results in key performance measures.

Based on daily data in September, Singapore reported:
• increases in supply and demand at 2.6 per cent and 3.5 per cent respectively;
• 0.9 per cent increase in occupancy to 82.5 per cent;
• 0.7 per cent decrease in average daily rate to S$324.61; and
• 0.2 per cent increase in revenue per available room to S$267.84.

Elizabeth Winkle, managing director of STR Global, said in a press statement: “Singapore managed to maintain the same levels of performance for the month of September as last year.

“Year after year, the city is taken over by the race track of the Formula 1 grand prix, which makes September traditionally the month with the highest ADR achieved for the market.”

The full September 2014 results will be released in about two weeks.

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