(May 21 12:34) Sbr.com.sg
Uploaded By:
Janine Ballesteros
Submitted By:
Janine Ballesteros
Case Study:
No
The impact of the pandemic was most felt by hotels within the upscale segment.
Gazetted hotel revenue per available room (RevPAR) plunged by approximately 62% YoY to $69 in Q1, according to CBRE Singapore Hotel Insights. Occupancy declined 50% YoY to 40% whilst average daily rate (ADR) levels dropped 20% YoY to $171.
The impact of the pandemic was most felt by hotels within the upscale segment. In March, RevPAR dropped by 76%, no thanks to both occupancy and ADR falling 69% and 21% respectively.
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