The best may be over for Singapore's booming hotel market as tightening corporate budgets and bank job cuts leave more luxury rooms empty, crimping profits at firms such as CDL Hospitality Trusts.
The city-state's high-end hotels have been hit harder than moderately priced rooms, which suggests that weaker corporate travel rather than tourism is weighing on demand. September's occupancy rate for upscale and luxury rooms dipped to an average of 81 percent, compared with 86 percent for mid-tier accommodations. Full story
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Singapore hotels feel the squeeze as corporate budgets tighten - The Malaysian Insider
