SINGAPORE – Singapore hotels’ average room rate (ARR) dropped month on month in April, in line with the fall in tourism arrivals, Singapore Tourism Board (STB) data showed on June 4.
ARR in April slipped 6.6 per cent to $279.44 from $299.04 in March, though it was still 3.2 per cent above the year-ago period’s ARR of $270.53.
The latest figures came as April international visitor arrivals slipped to 1.36 million, following the high in March drawn by the Taylor Swift concerts in Singapore.
Overall hotel room revenue, at $404.9 million, marked a 17.5 per cent drop from the preceding month’s year-to-date high of $490.8 million. It was the lowest overall room revenue recorded so far in 2024. Still, April’s figure was up 11.5 per…
