Singapore hotel performance slips in post-F1 October

SINGAPORE – Singapore hotels’ performance slipped in October, following highs in September when the Formula One (F1) night race came to town, Singapore Tourism Board (STB) data showed on Nov 29. This came even as international visitor arrivals picked up for the month.

October’s average room rate (ARR) dropped sequentially to $275.19, down 12.9 per cent from $315.79 in September. Still, it was up 1.7 per cent year on year.

Revenue per available room (RevPAR) similarly slid 14.4 per cent to $225.07 in October, from $263.06 in September. Year on year, it grew 6.7 per cent.

As a whole, room revenue in October also fell, down 13.3 per cent month on the month to $442.7 million, from $510.8 million in the previous month. Year on year, it…