Far East Hospitality sees room for variety as it grows
CEO of mid-tier hotel operator says crunch factors have led to industry with many small rooms, limited services
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Singapore
MID-TIER hotel operator Far East Hospitality's chief executive Arthur Kiong acknowledges the rosy statistics for the hospitality industry: tourism arrivals were up to 17.4 million last year and hotel occupancy this year hovers around the mid-80s.
Pointing to Singapore Tourism Board (STB) figures that show average room rates for the mid-tier segment between January to May standing at S$168.20, after falling from S$184.90 to S$167 between 2014 and 2017, he said a recovery could happen this year.
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