Sunday, May 6, 2012

Singapore hotel room prices hit 4 years high

Singapore hotel prices are already the most expensive in Asia but this does not stop them to go even higher in 2012. With the exploded number of gambler and increased number of tourist arrivals, Singapore is increasingly becoming an unattractive destination for a tourist in terms of accommodation cost:

"The six-day Singapore Airshow in February helped to push hotel room rates in Singapore to a four-year high.Tourists paid an average room ate of $218 that month, according to preliminary Singapore Tourism Board (STB) statistics obtained by The Straits Times.

This is the highest since September 2008’s $241. The inaugural Singapore Grand Prix Formula One race was held that month.Barring that instance, February’s rate is the highest recorded in at least the past decade. The average occupancy rate was 89 percent."
Source : Hotel Room Rates Hit Four-Year High in Singapore

Experts forecast the hotel room rates to rise further in Singapore and some even predict that above 270 SGD per night will become a norm. Luckily you can still find hotels charging between 100 - 200 SGD per night region in Singapore. The trick is to avoid the worst times to come to Singapore in terms of accommodation.  These times are big event times like Singapore F1 (absolutely avoid Singapore during this time if you are not a ticketed F1 guest),  Singapore Air Show or other industry events. You can also use hotel search engines like hotels combined to find a hotel within your budget.

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