StockTalk(6.5): Singapore Hotels Experience Recovery in April - What's Driving the Growth?
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Singapore's hotel sector recovered slightly in April, with the average room rate (ARR) rising 3.3% to S$273.18, data released by the Singapore Tourism Board showed. And revenue per available room (RevPAR) went straight up, too. It marks an improvement from the industry's decline that began in March.
While overall room revenue and average occupancy rates fell slightly, they were still higher than the January and February records. The gradual easing of Covid-19 restrictions and rising tourist numbers contributed to this recovery. In addition, the gradual resumption of business activities, such as business transactions and conferences, may also positively impact the hotel industry.
The pandemic has hit the hospitality industry hard, with travel disruptions and border closures leading to a sharp drop in tourism. However, as economic conditions continue to improve, Singapore's hotel industry is expected to stabilize or grow further in the coming months.
Are you interested in investing in Singapore's hospitality industry? Do you think the upcoming summer season and the resumption of business activities will further boost tourism and help sustain the growth of Singapore's hotel industry?
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No_Horse_Run_4896 : Hotel industry is on it's to recovery and maybe beyond. With so many people trap in their country for so long they now can't wait to exit their country and visit nice place. Singapore now got so many many interesting for them to revisit again, all the way la Singapore
Brt20 : With Covid slowing subsiding and Singapore and the rest of the world opening up, the hospitality industry is likely to gradually return to pre pandemic levels.
Starchin : Yes recovering.mbs nvr give me free hotel stay any more..so sad
ZnWC : With the travel restriction removed from most countries, hotel industry in Singapore will definitely recover. The question is how fast and how much.
Tourism and Business travellers are 2 types of people that contribute to hotel industry. Healthcare and large scale events (F1 race, Airshow, Pop singer shows etc) may speed up the demand.
The challenges to hotel industry recovery are recession, cost and competitions from other cities. Hence government policy to make Singapore an attractive place to stay is utmost important.
Deep Sea : CDL HTrust is one of the main beneficiaries from the rise in tourist numbers and foreign business holders. Its hotels will do well this year.The same applies to his parent, City Dev who is also in hotel business besides being the Land Lord in property.
JWKuek99 : With the summer season approaching and business activities resuming, tourism in Singapore is expected to bounce back and possibly reach pre-pandemic levels. Additionally, Singapore's captivating attractions make it an appealing destination for tourists.
102765799 : covid has prevented cross borders activities and the opening up of borders has largely seen return of tourism activities and related businesses which in turn rejuvenate the slowing or stagnantl economy.
snoopy123 : I think $SIA (C6L.SG)$ is a good proxy to the rebound in travel and tourism post-covid. Business travel has seen some picking up with an increase anticipated for 2023. Though leisure travel is a discretionary spend, many still wants to go somewhere for holidays and STB has been busy ramping up marketing efforts for Destination Singapore. Singapore's visitor arrivals avg'd 1.5 mil visitors per month pre-Covid (2019) and we're currently at ~1 mil so there's still more room to grow.
$CDL HTrust (J85.SG)$ $Far East HTrust (Q5T.SG)$ $FRASERS HOSPITALITY TRUST (ACV.SG)$
Singapore Tourism Statistics
Singapore welcomed 2.9 million visitors in Q1, two-thirds of pre-pandemic numbers
Moomoo SGOP snoopy123: Like how you think about this issue and share the stock with us! Very relatable one
Moomoo SGOP ZnWC: That's insightful! Tourism is getting better indeed
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