Singapore hotel occupancy hits 10-year high

AccorHotels Group and Singapore-based developer EL Development will open a new-build Pullman in the city center of Singapore.
Singapore continues to enjoy strong visitor arrivals. Photo credit: sukhrahul/Pixabay

Data from Cushman & Wakefield indicated occupancy at Singapore’s hotels reached 87 percent this year—the highest in a decade—driven by a continuing increase in visitor arrivals.

Singapore already is the tenth most-visited destination in the world, and according to the Singapore Tourism Board, international visitor arrivals rose 4 percent to 18.1 million this year. This followed a record-breaking 2017, when the city-state received 17.4 million visitors. The tourism board noted much of the increase came from North and South Asia, particularly China, Indonesia and India. 

Trips to Singapore from China are likely to grow 47.7 percent to 177.4 million in 2020 and by that year Singapore is slated to get an estimated 70 million overnight visitors, up from approximately 59 million visitors in 2016, according to the tourism board. 

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According to the UK-based newspaper The Independent, the summer release of the movie, “Crazy Rich Asians,” helped prop up the industry by prominently featuring the Marina Bay Sands and Raffles Singapore hotels. 

Earlier this year. AccorHotels Group and Singapore-based developer EL Development indicated they will open a new-build Pullman in the city center of Singapore and Kempinski Hotels set plans to open its first hotel in Singapore. The Capitol Kempinski Hotel Singapore will be part of the Capitol Singapore mixed-use development in the downtown civic district.