SINGAPORE hotels’ average room rate (ARR) slid month on month in April, in line with the fall in tourism arrivals, Singapore Tourism Board data showed on Tuesday (Jun 4). All other measures also posted sequential declines.
ARR in April slipped 6.6 per cent to S$279.44 from S$299.04 in March, even as it was 3.2 per cent above the year-ago period’s ARR of S$270.53.
The latest figures came as April international visitor arrivals slipped to 1.36 million, following the high in March drawn by the Taylor Swift concerts.
Overall hotel room revenue, at S$404.9 million, marked a 17.5 per cent drop from the preceding month’s year-to-date high of S$490.8 million. It was the lowest overall room revenue recorded so far in 2024. Still, April’s figure was up 11.5 per cent on year.
Also recording a year-to-date low was April’s revenue per available room (RevPAR), which fell 13.6 per cent to S$216.60 from S$250.71. But year on year, RevPAR was up 2.8 per cent.
At 77.5 per cent, April’s average occupancy rate dipped from March’s 83.8 per cent, and came in lower than the pre-pandemic rate of 83 per cent in January 2020. It was also the lowest occupancy rate recorded in the first four months of 2024.
Across hotel categories, performances were down month on month. ARR was down to S$644.96 in the luxury segment, S$324.93 in the upscale, S$209.36 in the mid-tier, and S$138.56 in economy.
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Based on STB’s data for the year to date, room revenue reached S$1.77 billion in April, up 27 per cent from the corresponding year-ago period. ARR for the first four months of 2024 gained 6.8 per cent to S$288.22; RevPAR rose 10.7 per cent to S$232.57; and the average occupancy rate grew 2.9 per cent to 80.7 per cent.
