WASHINGTON – 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.
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 that took place between 23-31 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 2-4 and 7-9 March. Forward STAR data shows occupancy on the books already as high as 72% on opening night.
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Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 81,000 properties and 10.5 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
