WITH the tourism sector in Singapore making firm strides, hotels are getting pricier for business travellers as well.
Visitor arrivals surged past the millionth mark for July – the first time ever for a single month - and average room rates rose 19.9 per cent from a year back, according to statistics released by the Singapore Tourism Board (STB) last week.
Also announced last week was the latest results of a bi-annual global hotel survey for corporate travellers, which showed Singapore’s room rates leaping 19 places to become the 25th most expensive in the world.
It is now only trailing two other Asian cities - Hong Kong, which ranks third in the world, and Tokyo, which is at the 12th spot.
The Hogg Robinson Group’s (HRG) Jan-Jun 2010 study – which uses a combination of industry intelligence and actual room nights booked and rates paid - now pegs Singapore’s average room rates to S$310.53, up from S$296.68 in 2009.
Executive Vice President (Asia Pacific) of HRG, Mr James Stevenson, attributes Singapore’s jump in position to the economic upturn and a strong demand for rooms which has driven up rates.
He sees Singapore maintaining this position or moving upwards in the next couple of years, and pointed to the two integrated resorts (IRs) as to influencing how this might play out.
“There are so many more rooms and you should see a lessening of the rates. But in another way of looking at it, the two IRs are not just hotels, but resorts which are attracting in their own right a lot of visitors. This in turn drives up rates,” he said.
Regional-wise, Asia posted a 3.1 per cent increase in hotel rates. Notables include Beijing, which showed a significant dip of 18.8 per cent in average room rates – an effect of the saturated market after the 2008 Olympics, during which many hotels were built.
It jumps 19 places in 2010 half-year report by UK corporate travel services group.
WITH the tourism sector in Singapore making firm strides, hotels are getting pricier for business travellers as well.
Visitor arrivals surged past the millionth mark for July – the first time ever for a single month - and average room rates rose 19.9 per cent from a year back, according to statistics released by the Singapore Tourism Board (STB) last week.
Also announced last week was the latest results of a bi-annual global hotel survey for corporate travellers, which showed Singapore’s room rates leaping 19 places to become the 25th most expensive in the world.
It is now only trailing two other Asian cities - Hong Kong, which ranks third in the world, and Tokyo, which is at the 12th spot.
The Hogg Robinson Group’s (HRG) Jan-Jun 2010 study – which uses a combination of industry intelligence and actual room nights booked and rates paid - now pegs Singapore’s average room rates to S$310.53, up from S$296.68 in 2009.
Executive Vice President (Asia Pacific) of HRG, Mr James Stevenson, attributes Singapore’s jump in position to the economic upturn and a strong demand for rooms which has driven up rates.
He sees Singapore maintaining this position or moving upwards in the next couple of years, and pointed to the two integrated resorts (IRs) as to influencing how this might play out.
“There are so many more rooms and you should see a lessening of the rates. But in another way of looking at it, the two IRs are not just hotels, but resorts which are attracting in their own right a lot of visitors. This in turn drives up rates,” he said.
Regional-wise, Asia posted a 3.1 per cent increase in hotel rates. Notables include Beijing, which showed a significant dip of 18.8 per cent in average room rates – an effect of the saturated market after the 2008 Olympics, during which many hotels were built.
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