Chart of the Day: Luxury hotels record the only positive RevPAR growth in Q1
It grew 5% compared to last year.
Out of all the hotel tiers in Singapore, only the luxury tier clocked in a positive revenue per available room (RevPAR) increase in the past quarter.
According to this chart from OCBC Investment Research, luxury tier reported a 5% growth in RevPAR. This is in contrast to the declines seen in other hotel tiers.
Economy hotels saw their RevPARs decline by 1.8% whilst upscale ones suffered a slight 0.6% slump. Mid-tier hotels saw the biggest RevPAR decline for the quarter at 4.1%.
For the whole quarter, RevPAR stayed flat at 0.4%.