The spate of aviation incidents and regional geopolitics may have spooked tourists from coming here, reports property consultancy Cushman & Wakefield, who found that hotel occupancy in Singapore is expected to have fallen further in 2014.
Channel NewsAsia reports that despite the excess supply of hotel rooms over the declining number in tourist arrivals, Singapore still remains one of the best performing markets in the Asia Pacific region. Hotels in Singapore commands the highest average room rate in the region, well ahead of Hong Kong and Sydney in 2014. "While the achievement of a target 16.3 million visitor arrivals may be a challenge in 2014, the outlook remains positive for the Singapore hotel market moving forward in the medium term as the negative impact from regional shocks abate and a recovery is seen in the wider South-East Asian tourism industry in 2015," says the report on the outlook for the upcoming year.
Photo: Nicolas Lannuzel via Flickr
The spate of aviation incidents and regional geopolitics may have spooked tourists from coming here, reports property consultancy Cushman & Wakefield, who found that hotel occupancy in Singapore is expected to have fallen further in 2014.
Channel NewsAsia reports that despite the excess supply of hotel rooms over the declining number in tourist arrivals, Singapore still remains one of the best performing markets in the Asia Pacific region. Hotels in Singapore commands the highest average room rate in the region, well ahead of Hong Kong and Sydney in 2014. "While the achievement of a target 16.3 million visitor arrivals may be a challenge in 2014, the outlook remains positive for the Singapore hotel market moving forward in the medium term as the negative impact from regional shocks abate and a recovery is seen in the wider South-East Asian tourism industry in 2015," says the report on the outlook for the upcoming year.
Photo: Nicolas Lannuzel via Flickr