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Learn moreMar 2018
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Luxury hotels underperformed in 2017, as demand from business travellers, comprising the bulk of its clientele, weakened as companies tightened their travel budgets amidst global economic fluctuations. In addition, receipts from leisure travellers were unable to offset the drop in business travellers.
Singapore witnessed a significant number of new luxury hotel openings towards the end of the review period. This includes JW Marriott Hotel Singapore, InterContinental Singapore Robertson Quay, and more recently Sofitel Singapore City Centre.
Marina Bay Sands maintained its leading position within brands of luxury hotels in 2016. It is one of the largest hotels with the most rooms in Singapore, and is situated in close proximity to several of the country’s most popular tourist spots, including Gardens by the Bay and Esplanade.
Competition from non-luxury hotels increased over the review period. Smaller boutique hotels are becoming increasingly popular, especially among millennial travellers to Singapore.
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Discover the latest market trends and uncover sources of future market growth for the Luxury Hotels (5-star plus) industry in Singapore with research from Euromonitor's team of in-country analysts.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.