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STR will release full June results for Singapore later in July STR will release full June results for Singapore later in July

STR: Preliminary June Data for Singapore Hotels

Hotels in Singapore reported positive hotel performance in June, according to preliminary data from benchmarker STR.

Occupancy rose 5.5 percent to 83.1 percent, Average daily rate increased 1.7 percent to SGD262.60 (USD193.53) and Revenue per available room (RevPAR) rose 7.2 percent to SGD218.23 (USD160.83).

More specifically, based on daily data from June, Singapore also reported supply was up by 3.7 percent year-over-year along with an increase in demand of 9.3 percent.

The RevPAR increase was the highest for any month in Singapore since February 2014. Growth in demand (room nights sold) was the highest for a June since 2010. STR analysts note that the North Korea and US summit held on June 12 boosted demand with an influx of delegates and media members in the country.