However, this was a 10% q-o-q dip from RevPAR’s peak — since the onset of the pandemic — of $236 in 4Q2022, which still translated to around 111% of normalised levels.
DBS Group Research analysts have shared their outlook for the hospitality industry after revenue per available room (RevPAR) and average room rates began the year strongly and tourist arrivals aligned with full-year estimates in 1Q2023.
According to the analysts, RevPAR for 1Q2023 started the year strong at an average of $212, despite the first quarter of the year typically being a seasonally slow period for travel.
