SINGAPORE, 15 February 2024: 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.
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.
