RevPAR growth augurs well for tourism sector

Singapore

THE grass is looking greener for Singapore's tourism industry as the first five months of this year saw upscale and mid-tier hotel segments faring the best with their RevPAR (revenue per available room) rates increasing, according to the recent Hotels MarketView report by CBRE Singapore.

From January to May, upscale hotels recorded a RevPAR growth of 2.1 per cent to S$225.64 and mid-tier hotels posted a RevPAR growth of 2.7 per cent to S$147.90.

In addition, the growth in room inventory in the second half of 2016 is expected to create a downward pressure on the hotels…