Normally quiet Singapore hopes to become one big party island soon with the arrival of global pop groups including Green Day. After a two-year break due to pandemic restrictions, Formula 1 returns along with several global investment conferences. Hotel operators should have a good time too.
Accommodation prices in Singapore have hit their highest in a decade. Average hotel occupancy rates approach 80 per cent, just shy of pre-pandemic levels. After Covid-19 struck, Asia’s average hotel occupancy fell to as low as 25 per cent in 2020. Shares of Asian hotel and resort operators, including Genting Singapore and Shangri-La Asia, have gained in the past year as Singapore eased border restrictions.
This is good news for the real estate investment trusts (Reits) sector. After a poor five years, Singapore-listed hospitality Reits including Far East Hospitality Trust and CDL Hospitality Trusts, have rebounded in 2022. Another, Frasers Hospitality Trust, received bid