Singapore hotel industry takings could be near-normal by year-end

VISITOR arrivals and hotel revenues picked up in February on the month before, as Singapore resumed reopening international borders amid the Covid-19 pandemic.

Some 67,760 visitors arrived in February, up from 57,170 in the month prior, the Singapore Tourism Board (STB) has said. Hotel room revenues were largely stable on the month before, with takings at S$100.8 million, against S$101.7 million in January.

With travel set to keep normalising, "the arrivals data set should be exponential growth" from here; hotels' revenue per available room (RevPAR) could hit more than 70 per cent of pre-pandemic levels in 2022, said DBS analyst Geraldine Wong, who covers hospitality.