Singapore hotel revenues down 20.9% year on year to S$979.6m in 2021 despite Dec bump

HOTEL industry room revenues fell by 20.9 per cent year on year in 2021, easing from the 70.5 per cent drop in the year before, according to the latest figures from the Singapore Tourism Board (STB).

Full-year industry revenue came in at S$979.6 million, even as festive spending pushed overall revenue per available room (RevPAR) to a year-round high in December.

Zhang Jia Hao, associate director of CBRE Hotels for Asia-Pacific, called hotel occupancies "at a considerably healthy level compared to its peers in the region".