Chesterton again urges release of more hotel sites
Property consultant cites high occupancies and room rates
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PROPERTY consultant Chesterton is again calling for the government to release more hotel sites.
Hotels in Singapore have been enjoying high occupancies (85.5 per cent from January to July this year) and average room rates (S$256.10 per room per night over the same period), which should trigger supply, and yet, according to Chesterton, there appears to be no attempt by the authorities to alleviate the looming shortage of hotel rooms.
"Rather, the authorities seem to be tightening the supply flow," it said in an exclusive report to BT.
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