Asia -  Singapore

Since hitting the peak performance in 2012, Singapore hotel market witnessed a lacklustre hotel performance due to significant hotels room supply and regional economic uncertainty. In 2017, despite an increase in occupancy levels, the average rate continues to dampen. HVI estimates the hotel values to decline approximately 3.5% in both USD and SGD in 2017 over the previous year. However, this is an improvement from a decline of approximately 9% and 16% in SGD and USD respectively in 2015. For the first half of 2018, Singapore hotel market experienced the first increase in average rates since 2012. Occupancy and averages rates are expected to follow the current positive momentum on the back of lower supply and increasing tourist arrivals. Singapore recorded a higher number of transactions in 2017 than the previous year, indicating an increase in investors’ interest in the market. Looking forward, HVS forecasts a moderate increase in value from 2018. 

Change In Value For Market:

Legend
Significant Value Increase: Greater than +10%
Moderate Value Increase: Between +3% and +10%
Stable Values: Between -3% and +3%
Moderate Value Decline: Between -3% and -10%
Significant Value Decline: Less than -10%

Singapore RevPAR Change

Singapore RevPAR

Year RevPAR
2013 184.21
2014 180.33
2015 158.00
2016 150.98
2017 148.55
2018 (f) 155.92
2019 (f) 161.35
2020 (f) 164.52

For more information, please contact:

Hok Yean CHEE
[email protected]
  • +65 6730-6308 (w)
  • +65 9686-6218 (m)
Ho Mei Leng
[email protected]
  • +65 6730-6300 (w)
  • +65 9620-2511 (m)
Jeremy Teo
[email protected]
  • +65 6730-6307 (w)
  • +65 9190-1991 (m)