Investors flock to Singapore to meet growing demand

Investors are gravitating to Singapore because of a high number of leisure an corporate visitors and a scarcity of properties to buy. According to Businessweek, tourist arrivals in Singapore are set to hit a record high, and daily room rates are outpacing those in Tokyo and Hong Kong.

"Eleven hotels valued at S$2.45 billion ($1.95 billion) were sold in Singapore last year, four times the total in 2012, according to deals tracked by property broker Savills Plc.," the article reports. 

Visitor arrivals are set to grow by as much as 8 percent from 2013, and revenue may climb by as much as 5 percent, according to the Singapore Tourism Board.

Virtual Event

HOTEL OPTIMIZATION PART 2 | Now Available On-Demand

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


Suggested Articles

Lodging owners who have the appropriate resources and capital have an opportunity to renovate at an accelerated rate and at more competitive prices.

The £18.4 million fine stems from a data breach discovered after the company purchased Starwood Hotels & Resorts Worldwide.

The company's revenues declined from $560 million in the third quarter of 2019 to $337 million in the third quarter of 2020.