What's New In Property

Hospitality assets continue to heat up

View of Marina Bay area from South Beach Residence. Barring an economic crisis, the immediate to mid-term outlook for the hospitality market is favourable.
View of Marina Bay area from South Beach Residence. Barring an economic crisis, the immediate to mid-term outlook for the hospitality market is favourable.ST PHOTO: BENJAMIN SEETOR

Hotel occupancy rates trend higher as tourism arrivals break new heights

Tourism arrivals continued to break new heights, reaching 18.5 million visitors last year, growing 6.4 per cent year on year from 2017, while total tourism receipts rose 1 per cent to $27.1 billion.

China, Indonesia, India, Malaysia and Australia were Singapore's top five international visitor markets last year and contributed to about 55 per cent of total international visitor arrivals.

Please or to continue reading the full article. Learn more about ST PREMIUM.

Enjoy unlimited access to ST's best work

  • Exclusive stories and features on multiple devices
  • In-depth analyses and opinion pieces
  • ePaper and award-winning multimedia content
A version of this article appeared in the print edition of The Sunday Times on December 15, 2019, with the headline 'Hospitality assets continue to heat up'. Print Edition | Subscribe