Helped by Coldplay’s World of the Spheres Tour, Singapore hotels saw healthy performance growth, according to preliminary January data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
(Image Source)
GLOHelped by Coldplay’s World of the Spheres Tour, Singapore hotels saw healthy performance growth, according to preliminary January data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Its latest data for Singapore hotels shows January 2024 (year-over-year % change):
Occupancy: 72.8% (+9.6%)
Average daily rate (ADR): SGD334.46 (+3.3%)
Revenue per available room (RevPAR): SGD243.55 (+13.2%)
Singapore posted its highest daily occupancy levels toward the end of the month, helped by six Coldplay performances between 23 and 31 January. The market’s highest occupancy levels (91.3%) were seen on Thursday, 25 January, and Friday, 26 January.
The market is expected to see another wave of high occupancy levels, with Taylor Swift’s Eras Tour taking place from 2 to 4 March and 7 to 9 March. Forward STAR data shows book occupancy as high as 72% on opening night.
For more information about the company and its products and services, please visit www.costargroup.com.
