Hotel News Now, 27 Aug 2009
STR Global data shows that in the first six months of the year RevPAR has declined 31.7 percent, which has been led by a decline in ADR of 20.1 percent, seeing average room rates decrease from SGD 313 in the first half of 2008 to SGD 250 in the first half of 2009. Occupancy has declined from 79 percent to 67 percent.
Year-to-date June tourism arrivals to Singapore recorded a decline of 11.5 percent, however, this trend is expected to ease in the second half. An analysis of the data shows us tourism arrivals in the first half of 2008 increased 3.3 percent, and it wasn’t until June 2008 that a negative trend began. Visitor arrivals in the second half of 2008 declined 6.2 percent.
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