The report brings together key aviation and hotel data from both organisations to deliver informed opinions and in-depth analysis.
The Business Travel Pulse report reveals that capacity increased strongly at Singapore airport in 2017, with a 3.8% seat increase. Further, 2018 YTD capacity is significantly up, at 6.6%, continuing the increasing trend year-on-year since 2013.
This correlates with passenger traffic trends that have been increasing since 2012. There was an increase in passenger traffic of nearly twice what was experienced in capacity growth in 2017, suggesting an inflated average ticket price (ATP) and correlating with the significant growth of Singapore capacity 2018 YTD.
With respect to hotels: versus 2016 the occupancy rates in Singapore have increased by 2% in 2018, to 84.1%.
Last Room Available rates (LRA) are also expected to remain flat this year. At the same time, with new supply coming into the city, the average daily booked rates have increased by SGD$2.0 compared with 2017. According to the CWT Solutions Group, with occupancy rates increasing it is recommended to invite a larger pool of properties to bid during hotel contract allocations, in order to have alternative options.
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