The Business Times
business-time-50

Don't hold breath for fire sales by owners of Singapore hotels

google-preferred-sourceAdd BT as a preferred source
Published Wed, Jul 8, 2020 · 09:50 PM

    Singapore

    SINGAPORE'S hotel business continues to be pummelled by Covid-19 with buyers on the sidelines waiting to pounce if owners throw in the towel.

    Despite staycation offers, Singapore hotels are struggling, given their reliance on international travellers. Foreign visitors in May numbered 880; 1.49 million visitors was recorded in May 2019. In 2019, Singapore had 19.1 million visitors.

    HotelsTourismColliersCBRE

    TRENDING NOW

    Singtel Singapore’s operating revenue falls 3.1% to S$901 million, attributed to “continued intense price competition”.

    Singtel Q1 gain drops 71% to S$818 million in absence of Airtel stake sale; weaker Singapore business

    The energy and urban solutions provider incurred S$155 million in transaction costs related to its acquisition of Australian energy provider Alinta.

    Sembcorp raises interim dividend despite 72% H1 profit slide to S$150 million on Alinta deal costs

    BYD’s rise to become the No 1 passenger-car seller in Singapore can be described as explosive. 

    How BYD disrupted Singapore’s car market – and why the strategy is turning on itself

    Revenue for the half year grows 61.1% to S$2.72 billion, up from S$1.69 billion in H1 2025.

    CDL H1 profit jumps three times to S$301 million on strong condo sales, doubles interim dividend

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More