A new high for Singapore hotel rates

Average hotel room rate in June reached US$172.73, the highest since September 2016.

Tourism recovery brightens Singapore's economy, driving rates up for hotels to record highs.
Tourism recovery brightens Singapore's economy, driving rates up for hotels to record highs. Photo Credit: Unsplash/MikeEnerio

Tourism in the Lion City is roaring back after the government eased Covid-19 restrictions, with hotel room rates surging last month to its highest in almost six years.

According to figures released by the Singapore Tourism Board, the average rate in June was SG$238.32 (US$172.73), the highest since September 2016 and representing a 63% increase from a year earlier, when restrictions and requirements were still in place.

In April, Singapore was one of the first countries in Asia to drop all testing requirements for incoming vaccinated travellers. A resurgence of conferences and major events ensued, and STB data showed a nearly 12-fold jump in arrivals in the first half of 2022 compared with the same period a year ago.

Singapore expects to receive 4 million to 6 million visitors in 2022, although STB cautioned last week, the unstable global political and economic environment, as well as the fluidity of the ongoing health situation, could pose challenges.



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