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Chesterton again urges release of more hotel sites

Property consultant cites high occupancies and room rates
Thursday, September 11, 2014 - 06:00
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Imminent room shortage at hotels? Chesterton says there appears to be no attempt to alleviate the looming shortage of hotel rooms, and that no new hotel sites were released under the 2014 government land sales programme. - FILE PHOTO

PROPERTY consultant Chesterton is again calling for the government to release more hotel sites. Hotels in Singapore have been enjoying high occupancies (85.5 per cent from January to July this year) and average room rates (S$256.10 per room per night over the same period), which should trigger

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