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Best month in years for Singapore hotels amid Hong Kong protests, as leisure and business travellers switch destinations
- Occupancy rates of Singapore hotels best since 2005 in July, and revenue per available room near four-year high. Analysts say protests Hong Kong a factor
- Hong Kong bookings and inquiries at a standstill since protesters shut down airport, travel agent says, and events scheduled for city have moved to Singapore
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Singapore’s hotel occupancy rates have climbed to their highest in over a decade as travellers and business events switched from Hong Kong, where pro-democracy protests have slammed tourist numbers and wider business sentiment.
Data released on Monday by Singapore’s tourism board showed average occupancy rates in the city state’s hotels hit 93.8 per cent in July, the highest in records going back to 2005, and up from 92.5 per cent a year ago.
The data also showed the highest revenue per room in almost four years, a trend analysts and hoteliers said was helped by conferences switching from rival business hub Hong Kong as protests that started in mid-June turned increasingly violent.
“Singapore may benefit twice as much from the Hong Kong fallout as both these destinations share similar traits,” says Derek Tan, an analyst at Singapore’s biggest bank DBS, citing businesses switching conference venues from Hong Kong.
The Global Wellness Summit, a gathering of around 600 health and beauty industry delegates scheduled for mid-October recently said it was moving to Singapore from Hong Kong. The event’s spokeswoman said this was “to ensure travel is as seamless as possible”.
Marcus Hanna, general manager of Singapore hotels Fairmont Singapore and Swissotel The Stamford, said he had a 60-strong business group last month switch from Hong Kong for a five-night stay.
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