By: KW Ang
Look, revenue per available room (RevPAR) fell nearly 5% to $199. This supposedly came on the back of falling room rates, due to ‘a surge in supply of hotel rooms’.
Then, there was a 4.8% year-on-year increase in room stock last year, which brought total inventory to ‘63,850 rooms across 413 hotels’. Knock-on effect, the average occupancy rate ‘dropped 0.9% point to 84.2%’.
Be that as it may, the ‘decline was less than expected due to last year’s record number of tourist arrivals’. Another gov.sg-new-ambiguous statement that almost rival ‘rise in major breakdowns but MRT gets more reliable?
Minister of SSS (Small-Space-Sex) said that by the time T4 opens in the second half of this year and the first phase of T5 is ready by the end of the next decade, Changi will more than double its current annual passenger handling capacity of 66 million
If 1% of the 132 million ‘arrivals’ stop over here, there’ll be demand for 1,320,000 hotel rooms. And we have only 63,850 Truth will out, the number of hotel rooms in Singapore had grew at a rate that outstrip growth in the workforce, MOM has no viable solutions and that’s why gov.sg dares not sell more hotel sites.
Gov.sg possesses Helicopter qualities – the ability to rise above the masses and look at things from a higher perspective, to not get confused by the forest? I guess not…