Average hotel room rates in Singapore hit 14-year high in September 2022; rate going at RM923 per night

Singapore had 5.37 million visitor arrivals as of the end of November. - The Straits Times/ANN

SINGAPORE, Dec 10 (The Straits Times/ANN): Average hotel room rates hit a 14-year high in September this year, off the back of the return of the likes of the Formula One race and a slew of major Mice (meetings, incentives, conventions and exhibitions) events.

According to data from the Singapore Tourism Analytics Network (Stan), room rates hit $283.47 (RM922) per night in September 2022, and remained in the $280 range in October. Figures for November are not yet available.