Singapore still needs more hotel rooms; occupancy likely to stay above 84%: Colliers
STB expects international visitor arrivals to rise by 4% to 18.1m this year, which will quicken hotel demand
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Singapore
SINGAPORE still needs a "significant" number of hotel rooms to keep pace with rising tourist numbers in the future despite substantial growth in room supply over the last three years, according to real estate agency Colliers International.
Room supply increased by over 5,500 in 2015, with another 2,567 rooms added in 2016 and about 3,400 new rooms last year. Colliers noted that hotel room supply will slow to 628 rooms in 2018, and to 1,300 rooms in 2019.
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