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HOTEL MARKETVIEW
Arrivals start to recover but
trading still a challenge
Singapore, H1 2015
TOP NEWS
 First monthly increase in visitor arrivals
since Feb 2014.
 Key highlights: Celebration of Nations 50
years of independence and the hosting of
28th Southeast Asia Games.
 STBs S$20 million campaign launched in
May to woo visitors from key feeder markets
 Investment deals not limited to downtown
core anymore; more deals are spilling
along city fringe, though still rare and at
high prices.
 UNESCO declares Botanic Gardens as a
World Heritage Site
 Singapore tops Lonely Planets Best in
Travel 2015
 Singapore Zoo is the best in Asia according
to TripAdvisors 2015 Travellers Choice
awards and 3rd in the worldwide category
 Singapore tourism market faces potential
headwinds for the remaining 2015 but
marketing efforts from SG50 may see some
improvements.
FIRST MONTHLY INCREASE IN VISITOR
ARRIVALS SINCE FEB. 2014
H1 2015 CBRE Research 息 CBRE Ltd. 2015 | 1
6.07 Mil S$251.48 84.8% S$213.29 S$203 Mn
HOTEL MARKETVIEW
LUXURY SECTOR THE STRONGEST HIT BUT
MIDSCALE TIER LOOKS SET TO REBOUND
SUPPLY PIPELINE
H1 2015 CBRE Research 息 CBRE Ltd. 2015 | 2
SINGAPORE
Source: MTI, STB, CBRE, H1 2015
Chart 1: International Visitor Arrivals
Source: MTI, STB, CBRE, H1 2015
Source: STB, CBRE, H1 2015
Source: STB, CBRE, H1 2015
YTD May
2015 (Mil)
Y-O-Y(May)
Singapore 6.07 1.1%
YTD May
2015
Y-O-Y (May)
ADR S$251.48 -3.4%
Occupancy 84.8% -110bps
RevPAR S$214.29 -4.6%
-20%
-10%
0%
10%
20%
30%
40%
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015F
2016F
2017F
Visitor Arrivals Visitor Arrivals Forecast
Change in Visitor Arrivals
% y-o-y(mil)
60%
65%
70%
75%
80%
85%
90%
0
50
100
150
200
250
300
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
YTDMay2014
YTDMay2015
ADR RevPAR Occupancy
ADR/RevPAR(S$) Occupancy Rate
Chart 2: Hotel Performance
Table 1: International Visitor Arrivals
Table 2: Hotel Performance
HOTEL MARKETVIEW
JUBILEE CELEBRATION SET TO BOOST
TOURISM
INVESTMENT MARKET
H1 2015 CBRE Research 息 CBRE Ltd. 2015 | 3
Property ContractDate Price ($) Buyer
Capri by Frasers, Changi City Mar 2015 203.00 mil Frasers Centrepoint
Chart 3: Future Room Supply Chart 4: Investment Sales
Source: CBRE, H1 2015 Source: RCA, CBRE , H1 2015
Source: RCA, CBRE, H1 2015
SINGAPORE
Table 3: Major Reported Transactions
0
1,000
2,000
3,000
4,000
5,000
2016 2017 2018
Luxury Upscale Midscale Economy Not Announced
Number of Rooms
-100%
-50%
0%
50%
100%
150%
200%
250%
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
2007 2008 2009 2010 2011 2012 2013 2014 1H
2015
Sales Volume in Local Currency % change
Millions (S$) % Change
Disclaimer: Information contained herein, including projections, has been obtained from sources believed to be reliable. While we do not doubt its accuracy,
we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to confirm independently its accuracy and
completeness. This information is presented exclusively for use by CBRE clients and professionals and all rights to the material are reserved and cannot be
reproduced without prior written permission of CBRE.
HOTEL MARKETVIEW
MARKET OUTLOOK CONTACTS
SINGAPORE
DEFINITIONS
ADR
Average Daily Rate (ADR) is a ratio that indicates the average price for one overnight stay at a hotel. It is
calculated by dividing total rooms revenue by the number of rooms occupied.
AOR
Average Occupancy Rate (AOR) is calculated by dividing Rooms Occupied by Rooms Available. Complimentary
rooms are not included in the Rooms Occupied.
RevPAR
Revenue Per Available Room (RevPAR) is the total hotel room revenue divided by the total rooms available to rent
for a day or range of dates.

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  • 1. HOTEL MARKETVIEW Arrivals start to recover but trading still a challenge Singapore, H1 2015 TOP NEWS First monthly increase in visitor arrivals since Feb 2014. Key highlights: Celebration of Nations 50 years of independence and the hosting of 28th Southeast Asia Games. STBs S$20 million campaign launched in May to woo visitors from key feeder markets Investment deals not limited to downtown core anymore; more deals are spilling along city fringe, though still rare and at high prices. UNESCO declares Botanic Gardens as a World Heritage Site Singapore tops Lonely Planets Best in Travel 2015 Singapore Zoo is the best in Asia according to TripAdvisors 2015 Travellers Choice awards and 3rd in the worldwide category Singapore tourism market faces potential headwinds for the remaining 2015 but marketing efforts from SG50 may see some improvements. FIRST MONTHLY INCREASE IN VISITOR ARRIVALS SINCE FEB. 2014 H1 2015 CBRE Research 息 CBRE Ltd. 2015 | 1 6.07 Mil S$251.48 84.8% S$213.29 S$203 Mn
  • 2. HOTEL MARKETVIEW LUXURY SECTOR THE STRONGEST HIT BUT MIDSCALE TIER LOOKS SET TO REBOUND SUPPLY PIPELINE H1 2015 CBRE Research 息 CBRE Ltd. 2015 | 2 SINGAPORE Source: MTI, STB, CBRE, H1 2015 Chart 1: International Visitor Arrivals Source: MTI, STB, CBRE, H1 2015 Source: STB, CBRE, H1 2015 Source: STB, CBRE, H1 2015 YTD May 2015 (Mil) Y-O-Y(May) Singapore 6.07 1.1% YTD May 2015 Y-O-Y (May) ADR S$251.48 -3.4% Occupancy 84.8% -110bps RevPAR S$214.29 -4.6% -20% -10% 0% 10% 20% 30% 40% 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015F 2016F 2017F Visitor Arrivals Visitor Arrivals Forecast Change in Visitor Arrivals % y-o-y(mil) 60% 65% 70% 75% 80% 85% 90% 0 50 100 150 200 250 300 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 YTDMay2014 YTDMay2015 ADR RevPAR Occupancy ADR/RevPAR(S$) Occupancy Rate Chart 2: Hotel Performance Table 1: International Visitor Arrivals Table 2: Hotel Performance
  • 3. HOTEL MARKETVIEW JUBILEE CELEBRATION SET TO BOOST TOURISM INVESTMENT MARKET H1 2015 CBRE Research 息 CBRE Ltd. 2015 | 3 Property ContractDate Price ($) Buyer Capri by Frasers, Changi City Mar 2015 203.00 mil Frasers Centrepoint Chart 3: Future Room Supply Chart 4: Investment Sales Source: CBRE, H1 2015 Source: RCA, CBRE , H1 2015 Source: RCA, CBRE, H1 2015 SINGAPORE Table 3: Major Reported Transactions 0 1,000 2,000 3,000 4,000 5,000 2016 2017 2018 Luxury Upscale Midscale Economy Not Announced Number of Rooms -100% -50% 0% 50% 100% 150% 200% 250% 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 2007 2008 2009 2010 2011 2012 2013 2014 1H 2015 Sales Volume in Local Currency % change Millions (S$) % Change
  • 4. Disclaimer: Information contained herein, including projections, has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to confirm independently its accuracy and completeness. This information is presented exclusively for use by CBRE clients and professionals and all rights to the material are reserved and cannot be reproduced without prior written permission of CBRE. HOTEL MARKETVIEW MARKET OUTLOOK CONTACTS SINGAPORE DEFINITIONS ADR Average Daily Rate (ADR) is a ratio that indicates the average price for one overnight stay at a hotel. It is calculated by dividing total rooms revenue by the number of rooms occupied. AOR Average Occupancy Rate (AOR) is calculated by dividing Rooms Occupied by Rooms Available. Complimentary rooms are not included in the Rooms Occupied. RevPAR Revenue Per Available Room (RevPAR) is the total hotel room revenue divided by the total rooms available to rent for a day or range of dates.