Blockbuster events, tourist surge buoy Singapore’s hotel market: CBRESingapore’s hotel market continues to benefit from a bustling events scene and the return of mainland Chinese tourists, according to CBRE.
In its Asia Pacific Hotels & Hospitality’s Market Update, CBRE said the sector’s overall performance has been robust with occupancy exceeding 83.8% in March, closing in on the pre-pandemic levels of 84% in the same month in 2019. The hotel industry also posted its highest Average Daily Rate and Revenue Per Available Room for the month of March, rising to $358.91 and $284.03, respectively, based on preliminary data from CoStar.The strong performance, however, was not reciprocated by investors, with investment activity in the sector still far from historical levels.“Private investors will continue to drive acquisitions in 2024, with luxury and upscale assets their primary focus.
We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.