Hotel Industry in Singapore:
The Singapore hotel industry also saw strong growth in many dimensions.
Revenue per Available Room (RevPar) more than doubled from S$98.20 to S$220.50, boosted by an improvement in hotels’ Average Occupancy Rates (AOR) from 80.6% to 85.5%.
As well as Average Room Rates (ARR) from S$121.70 to S$258.00.
In addition, total room revenue tripled from S$1.02 billion to S$3.15 billion.
Labour productivity, measured by value-add per worker, for the period from 2010 to 2014 also achieved a compound annual growth rate of 5.8% (nominal)