Economy hotels likely to be worst hit in 2016: HVS poll
This is on the back of significant increase in supply and intensifying competition
Singapore
A PROJECTED decline in Singapore hotel market performance this year is expected to be most pronounced for hotels in the economy segment, due to the significant increase in supply and intensifying competition - shows a survey of Singapore hotel industry professionals conducted by hotel advisory group HVS.
Total revenue for hotels in the economy segment on the island is expected to slide 10.3 per cent on average in 2016, dragged by a projected 8.3 per cent fall in average daily rate (ADR) and 3.0 percentage point drop in occupancy rate.
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