Singapore hotels’ average room rate, revenues in August slip from July highs

SINGAPORE hotels’ average room rate (ARR) dipped in August from July’s near-decade high to come in at S$248.34, though it was still significantly higher than year-ago levels, the latest data from the Singapore Tourism Board (STB) showed.

The month’s figure broke the ARR’s 6-month growth streak, which peaked at a revised S$257.94 in July. On the month, the rate fell by 3.7 per cent. On the year, however, it jumped 62.7 per cent.

Overall, hotel room revenues reached S$315.6 million for the month, falling slightly against the S$316.8 million observed in the preceding month, but this was more than 4.5 times the level recorded in the corresponding period a year ago.