Chart of the Day: Brace yourselves for a slew of hotel rooms

A whopping 53,000 by 2015.

According to Knight Frank, an estimated 53,000 hotel rooms are expected to be available by 2015, based on projects which have received planning approval. 

This represents a CAGR of approximately 6.5 per cent, slightly higher than STB’s expected tourist arrivals growth rate.

Here's more from Knight Frank:

Notably, mid-tier hotels would form almost 50 per cent of the total future supply, with developments such as Dorsett Regency Hotel, Ramada Singapore, and Changi Cove Hotel.

An additional 5,000 hotel rooms are potentially in the pipeline by 2017, which have yet to receive planning approval.

This large number of new hotel rooms in 2013 and 2014 may limit growth of room rates in the next 2 years.