, Singapore

Singapore economy hotels hardest hit by market uncertainties

Economy hotels posted 3.2% decline in RevPar in 1H.

Singapore Tourism Board categorizes hotels into four tiers based on a combination of factors that include average room rates, location and product characteristics: Luxury, Upscale, Midtier, and Economy.

Looking at hotel revenue per available room (RevPAR) trends by segment, the Midtier and Upscale tiers seem more resilient, posting 0.6% and -0.2% YoY growth for the Jan-Jun period respectively.

Luxury RevPAR for Jan-Jun has moderated downwards to post a -1.7% growth, while Economy RevPAR posted the worst performance, with a -3.2% growth.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley