Coldplay Concert events Drove Singapore Resort Efficiency in January, Taylor Swift Up Subsequent in March

Helped by Coldplay’s World of the Spheres Tour, Singapore motels noticed wholesome efficiency development, in accordance with preliminary January knowledge from CoStar.

January 2024 (year-over-year % change):

• Occupancy: 72.8% (+9.6%)
• Common day by day charge (ADR): SGD334.46 (+3.3%)
• Income per out there room (RevPAR): SGD243.55 (+13.2%)

Singapore posted its highest day by day occupancy ranges towards the top of the month, helped by six Coldplay performances that occurred between 23-31 January. The market’s highest occupancy ranges (91.3%) have been seen on Thursday, 25 January, and Friday, 26 January.

The market is anticipated to see one other wave of excessive occupancy ranges with Taylor Swift’s Eras Tour happening 2-4 and 7-9 March. Ahead STAR knowledge reveals occupancy on the books already as excessive as 72% on opening night time.

CoStar is a number one supplier of on-line actual property marketplaces, data and analytics within the property markets. For extra details about the corporate and its services and products, please go to www.costargroup.com.