Hotel RevPAR dropped 62% YoY in Q1

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. read more