SINGAPORE hotels’ average room rate (ARR) grew sequentially in March, as international visitor arrivals climbed to a new post-pandemic high, Singapore Tourism Board (STB) data showed on Friday (May 3).

March’s ARR reached S$301.49, up 1.3 per cent from the previous month. On a year-on-year basis, ARR was up 14.3 per cent. Other indicators – overall hotel room revenue, revenue per available room (RevPAR) and average occupancy rate – also grew in March.

These came as international tourist arrivals climbed to 1,480,514 in March, up from February’s 1,436,574 visitors – marking a new post-pandemic high.

Visitors from South-east Asia drove most of the growth at 534,342 arrivals, up 24.1 per cent from 430,675 in the preceding month.

Much of the growth in tourist arrivals can be attributed to the high-profile concerts that took place during the month, CGS International economic advisor Song Seng Wun told The Business Times.

The most prominent example would be Taylor Swift’s six shows at the National Stadium in early March, he added.

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The American pop star performed to more than 300,000 attendees, many of them tourists. Singapore was Swift’s only stop in South-east Asia, as part of her ongoing Eras Tour.

K-pop boy band Shinee performed at the Singapore Indoor Stadium on Mar 2, Song noted.

China remained as the top source of visitors, with Indonesia and Malaysia rounding up the top three. This is even as Chinese tourist arrivals fell to 247,724 in March, down from 326,968 in February.

The fall in Chinese tourist arrivals in March was a “normalisation” in visitor numbers after the Chinese New Year festive period, which was celebrated in February this year, Song explained. “Even before the pandemic, you will see things quieten down after Chinese New Year,” he noted. “With the Chinese, it’s more about seasonality.”

Indonesia was the second-largest source of visitors with 205,033 travellers, a 7.5 per cent rise from 190,757 in the previous month. Malaysia accounted for 120,256 visitors, up 20 per cent from February’s 100,200 arrivals.

Overall room revenue in March climbed to S$493.8 million, up 9.5 per cent from S$451.2 million in February and 37 per cent higher than the year-ago period.

RevPAR rose to S$252.79, up 2.4 per cent from the previous month and 20.5 per cent higher on a year-on-year basis.

The hotels’ average occupancy rate stood at 84 per cent in March, up marginally from 83 per cent in February, and in line with the pre-pandemic rate of 83 per cent in January 2020.

Across hotel categories, rates grew sequentially for most segments. ARR rose to S$351.80 in the upscale segment, S$226.21 in the mid-tier category and S$160.74 in the economy tier.

The luxury segment, however, saw a marginal dip in ARR to S$667.36 in March, from S$676.44 in February.