Hotel RevPAR hits $231.2 amidst tightening supply

Investment transaction volume doubled YoY to $828.3m in H1.

Singapore hotels remained the top performer in Asia Pacific with its average daily rate (ADR) also hit $273.25 (US$198.41) for the 12 months ending July, CBRE reported.

Revenue per available room (RevPAR) hitting $231.2 (US$167.24).

Also read: Singapore's hotel RevPar hits $185 in H1

Occupancy rose above 90% for the first time in July, attributed to steady growth in visitor arrivals and shrinking of supply pipeline.

"Performance is expected to remain robust, driven by ongoing efforts by local tourism bodies to improve its offering," CBRE wrote.

Across Asia, RevPAR declined 3.9% to $97.15 (US$70.54) over the same period, amidst a 3.5% decline in the average daily rate (ADR) to $138.26 (US$100.39) and a 0.4% dip in occupancy to 70.3%.

Hotel investment transaction volume doubled YoY to $828.3m in H1 2019, despite the 23% drop in transaction volume across Asia to $15.01b (US$10.9b) in Q2.

Four properties have changed hands in the same period, namely Ascott Raffles Place, Ibis Novena, Bay Hotel and Claremont Hotel.