With the unprecedented impact of the COVID-19 pandemic adversely impacting the tourism industry, Singapore’s lodging industry will be disrupted by the sharp drop in incoming arrivals to Singapore in 2020. The dramatic drop in arrivals from March 2020 reported by the Singapore Tourism Board caused hotel metrics to be off-balance.
As hotels in Singapore struggled to stay afloat with lacklustre occupancy rates during the COVID-19 pandemic, the government took a unique approach to support hotels in its battle against the pandemic. To curb the disease, the Singapore government’s initiative to mass book over 7,500 hotel rooms served the dual purpose of housing quarantined individuals, visitors on Stay-At-Home Notices and later the bulk of migrant workers.
For the near future, short-term rentals remain illegal in Singapore following a 2019 announcement by the Urban Redevelopment Authority (URA) after four years of discussions. Reasons cited included concerns for residents’ safety and privacy.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Lodging industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Lodging industry in Singapore, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Lodging research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page