CDLHT shifts Singapore hotel focus to occupancy as room-rate rally runs its course
The group is banking on a strong events line-up, robust tourism infrastructure and enduring wanderlust to boost its room take-up rates, which have yet to catch up with pre-Covid norms
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Kalpana Rashiwala
CDL Hospitality Trusts (CDLHT) has been riding the recovery in the hospitality sector, on the back of what its managers’ head honcho Vincent Yeo terms the “evolution of hotel room rates” in its core market of Singapore.
For a long time, room rates in Singapore were significantly lower than in other capital cities, despite hotels here running at very high occupancies. However, things began to change last year as Singapore emerged from the Covid-19 pandemic.
“Hotels accepted lower occupancy but achieved higher room rates, ultimately collecting more revenue,” said Yeo.
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