Healthy growth in tourist arrivals of 6.7% y-o-y for first four months of 2018 on the back of continued growth in Asia Pacific tourism and increased flight and cruise connectivity to Singapore.
Continued growth in top visitor markets like China and India.
Improved hotel trading conditions between January and April, supported by increasing tourist numbers.
Largest growth in RevPAR seen in economy and mid-tier segments.
Additional room supply in short-term expected to taper, following previous two years of massive inventory.
investor sentiments improved on the back of stronger hotel performance and visitor arrivals but transaction deals continued to be deterred by price gap expectations.
URA to consider proposals for new hotels developments on sites not zoned for Hotel use from 13 August onwards.
Continued demand from developers seeking sites upon which to construct new hotels as two sites just released in the Second Half 2018 Government Land Sales Programme.