Singapore Leads Way on Room Cost
Skift Take
- Bloomberg reported that hotel rooms in Singapore are now the most expensive in almost a decade.
- Radisson Hotel Group said they are aiming to accelerate growth across Thailand.
- The Tongsai Bay, the first five-star luxury hotel to be built on Koh Samui, has embarked on an innovative refurbishment and development program to celebrate its 35th anniversary as a luxury eco-haven.
Bloomberg reported that hotel rooms in Singapore are now the most expensive in almost a decade as the city-state seeks to position itself as the tourism and business destination in Asia. The average hotel room rate in Singapore rose nearly 70% year on year in July to S$259, the highest since September 2021. Visitor arrivals continue to accelerate amid easing Covid-19 restrictions. Visitor arrivals rose for the sixth straight month in July to 726,601, up from 543,773 in June. The next big event will be the Formula One Grand Prix on September 30 to October 2 after a two-year hiatus. The Singapore Tourism Board expects 4 million to 6 million visitors in 2022. The nation saw 1.5 million visitor arrivals in the first half of 2022 with Indonesia, India, Malaysia, Australia and the Philippines as the top five visitor markets, accounting for 56% of Singapore’s total visitor arrivals in the first half.
Radisson Hotel Group said they are aiming to accelerate g
