·According to the Singapore Tourism Board, Singapore posted an estimated S$13.8 billion in tourism receipts from January to December 2007, representing an 11.3% increase over January to December 2006. This had exceeded the target of S$13.6 billion for 2007, and set a new record for tourism receipts.
·In 2007, Singapore welcomed 10.3 million visitors, registering a growth of 5.4% over 2006 (9.7 million visitors). This is the highest annual visitor arrivals recorded for the Singapore tourism sector. It had outperformed the 2007 annual target of 10.2 million visitors. This means that Singapore will be well placed to achieve its Tourism 2015 targets, including increasing tourist arrivals to 17 million, expanding tourism receipts to S$30 billion, and creating jobs for 250,000 people.
Hotel Industry PerformanceJan – Dec2007YoY % Change
Maximum Room Nights10,753,241-1.2
Available Room Nights110,416,037-0.9
Gross Lettings (Room-Nights)39,054,6561.1
Standard Average Occupancy Rate4 (%)86.91.7 pt
Total Room Revenue (S$ million)1,846.522.8
Standard Average Room Rate5 (S$)202.423.1
Revenue per Available Room (RevPAR)6 (S$)176.025.6
Source: Tourism Focus 2006 December by Singapore Tourism Board.
1 Available Room Nights = Maximum Rooms – Rooms under renovation, for staff use, others.
2 Paid Lettings = Room lettings paid for by hotel guests.
3 Gross Lettings (Room Nights) = Paid Lettings + Complimentary lettings.
4 Standard Average Occupancy Rate = (Gross Lettings Room Nights / Available Room Nights) x 100.
5 Standard Average Room Rate = Total Room Revenue / Gross Lettings. 6 RevPAR = AOR x ARR.
·Benefiting from the record visitor arrivals, the hotel industry saw both the Average Room Rate (“ARR”) and Average Occupancy Rate (“AOR”) setting new highs. Total room revenue was estimated to reach an all-time high of S$1.85 billion, an...