Orchard Road hotels' revenue bolstered by Trump-Kim summit

Q2 RevPAR was highest in June at 6.9% YoY.

The meeting between US president Donald Trump and North Korean leader Kim Jong Un has paid off for Singapore’s hotels. STR said that occupancy in the city reached 81%, higher than the 70% average in the Asia Pacific.

It was Singapore’s best second quarter in five years since 2013. Moreover, Singapore recorded its highest Q2 revenue per available room (RevPAR) at 6.9% YoY in June.

Also read: Sentosa hotels welcome high room demand amidst US-North Korea summit

In fact, hotels in the country’s Orchard Road tourist belt reported three consecutive days with double-digit growth in revenue per available room between June 10 and June 12. That’s the area where the two leaders stayed during their Singapore meeting, with Trump choosing the Shangri-La hotel and Kim the St. Regis.

STR compiled data from its research made up of a sample of 62,000 hotels globally.

Read the full report here.