Travel Accommodation in Singapore - New Market Report
Travel accommodation value sales grew by 3% in 2013 with the opening of 13 new hotels, adding more than 2,900 hotel rooms to the national inventory. Average occupancy rate remained constant as tourism arrivals remained constant. Mid-tier and economy hotels performed well in 2013 as there was a shift towards middle-class accommodation for business travellers due to a tighter corporate travel budget, resulting in lower average daily rates. Another contributor to the slower performance in overall travel accommodation was the...
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