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Chart of the Day: Singapore’s hotels to see a sharp rebound after a weak 2014
Occupancy levels to rise in the coming years.
2014 was a relatively muted year for Singapore’s hotels, as visitor arrivals also dwindled. This year, however, will be different.
According to a report by UOB Kay Hian, revPAR should stabilise and gradually increase 3-5% over the next four years. Occupancy levels will also remain high at about 85%.
Hotels should brace themselves for strong waves of visitor arrivals, as several upcoming high-profile sporting events will be held at the Singapore Sports Hub later this year: the 28th SEA Games in June, the FINA Swimming World Cup 2015, as well as the BNP Paribas WTA Finals Singapore.
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