Singapore hotel room rates hit six-year high as tourism recovers

SINGAPORE, July 24 (Bloomberg): Singapore’s hotel room rates surged last month to the highest in almost six years as tourism makes a recovery in the city-state after the government eased coronavirus measures.

The average rate in June was S$238.32 ($171), the highest since September 2016, according to data from the Singapore Tourism Board. That represents a 63% increase from a year earlier, when quarantine rules were still in place.