“Only luxury and upscale categories managed to grow their RevPARs on a y-o-y basis. Notwithstanding the slowdown in April, performance is still up from the prior year. Room rates and RevPAR are up 3.2% and 2.8%, respectively,” Guha highlights.
Maybank Securities’ Krishna Guha is keeping “neutral” on Singapore REITs amid normalising growth after the “Taylor Swift effect” wears off.
In his June 6 report, Guha notes that international visitor arrivals in April slowed to 1.36 million, following the high of 1.48 million in March. Consequently, room rates and revenue per available room (RevPAR) fell 6.6% and 13.6% from March. The performance was down across all the hotel categories from the prior month, he adds.
