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Singapore hotels get boost from Crazy Rich Asian tourism boom

Bloomberg Published on Wed, Dec 19, 2018 / 7:15 AM GMT+8

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(Dec 19): After Singapore’s residential and office markets made comebacks, the next property sector to bet on might just be its hotels.

The hotel industry is heading into 2019 in good shape after boosts to visitor arrivals from the Trump-Kim summit and the romantic comedy “Crazy Rich Asians.” Average occupancy rates touched 87 percent this year, the highest in a decade, property firm Cushman & Wakefield said.

Singapore’s hospitality sector is in a “sweet spot,” according to Vijay Natarajan, an analyst at RHB Research Institute Singapore. His top pick is CDL Hospitality Trusts, a real estate investment trust.