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Singapore hotel room rates set to rise as visitor arrivals continue to recover

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Annabeth Leow

Annabeth Leow

Published Mon, Apr 25, 2022 · 06:32 PM
    • The restrained outlook comes as several major source markets remain effectively shut, one economist told The Business Times.
    • The restrained outlook comes as several major source markets remain effectively shut, one economist told The Business Times. PHOTO;: REUTERS

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    SINGAPORE hoteliers look set to keep raising rates, as a staffing crunch and travel curbs in China cap the recovery in occupancies, industry watchers have told The Business Times.

    This comes even as arrivals rose to 121,190 in March, up from 67,760 in February - the highest level since March 2020, when Singapore unprecedentedly closed its borders to short-term visitors.

    Industry room revenues jumped to S$146.9 million in March, up from S$103.0 million in the month prior, according to the latest data from the Singapore Tourism Board (STB).

    Singapore economySingapore tourismHotels

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