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.
Expectation of hoteliers regarding changes to average room rates due to the COVID-19 outbreak in Singapore as of March 2020
Original question: Considering the influence of the COVID-19 outbreak, for your hotel, what is your expectation for percentage growth/decline for full-year 2020 (FY2020) vs full-year 2019 (FY2019)? [Average Room Rate]
Respondents accounted for a total of 23,924 rooms across 6 different classification of hotels. They accounted for 40% of Singapore's total gazetted supply.
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Horwath HTL. (March 6, 2020). Expectation of hoteliers regarding changes to average room rates due to the COVID-19 outbreak in Singapore as of March 2020 [Graph]. In Statista. Retrieved November 18, 2024, from https://www.statista.com/statistics/1113571/singapore-expected-changes-in-hotel-room-rates-during-covid-19/
Horwath HTL. "Expectation of hoteliers regarding changes to average room rates due to the COVID-19 outbreak in Singapore as of March 2020 ." Chart. March 6, 2020. Statista. Accessed November 18, 2024. https://www.statista.com/statistics/1113571/singapore-expected-changes-in-hotel-room-rates-during-covid-19/
Horwath HTL. (2020). Expectation of hoteliers regarding changes to average room rates due to the COVID-19 outbreak in Singapore as of March 2020 . Statista. Statista Inc.. Accessed: November 18, 2024. https://www.statista.com/statistics/1113571/singapore-expected-changes-in-hotel-room-rates-during-covid-19/
Horwath HTL. "Expectation of Hoteliers regarding Changes to Average Room Rates Due to The Covid-19 Outbreak in Singapore as of March 2020 ." Statista, Statista Inc., 6 Mar 2020, https://www.statista.com/statistics/1113571/singapore-expected-changes-in-hotel-room-rates-during-covid-19/
Horwath HTL, Expectation of hoteliers regarding changes to average room rates due to the COVID-19 outbreak in Singapore as of March 2020 Statista, https://www.statista.com/statistics/1113571/singapore-expected-changes-in-hotel-room-rates-during-covid-19/ (last visited November 18, 2024)
Expectation of hoteliers regarding changes to average room rates due to the COVID-19 outbreak in Singapore as of March 2020 [Graph], Horwath HTL, March 6, 2020. [Online]. Available: https://www.statista.com/statistics/1113571/singapore-expected-changes-in-hotel-room-rates-during-covid-19/
