SINGAPORE Hotel operating performance in Asia Pacific is growing, according to the six-month results from the Arthur Andersen Hotel Industry Benchmark Survey.
Intra-regional business and leisure travel has increased substantially, resulting in double-digit growth in tourist arrivals for the first half of 2000 in Singapore (11.8%), Hong Kong (15.7%) and Vietnam (18.1%).
Increased demand is finally translating into not only improved occupancy rates, but into room rate growth and stronger RevPAR performance. Thirteen markets recorded double-digit growth in RevPAR over the first half of 2000 compared with 1999. (8/23/00)
Source: Arthur Andersen Hotel Industry Benchmark Survey