Expected changes in hotel room rates in Singapore amidst COVID-19 2020
In a survey of Singapore hotel operators in March 2020, the majority of hoteliers surveyed expected their average room rate to decline by up to 30 percent. The hotel sector had been significantly affected by the COVID-19 outbreak. While hotel performance was up to expectations in January, circumstances deteriorated significantly since then. In an effort to help Singapore manage the spread of infections, several hotels have set aside entire compounds for stay-home notice returnees, transferring existing guests to other hotels from the same chain.