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In 2024, the average occupancy rate (AOR) for hotels and accommodation in Singapore was about  percent. The standard occupancy rate has increased again after two years of decline due to the COVID-19 pandemic and the restriction measures that were implemented. Despite this, hotel and accommodation occupancy rates remain lower than in the pre-pandemic years.

COVID-19 impact and gradual recovery

The COVID-19 pandemic severely affected Singapore's hotel industry, resulting in a significant decline in hotel room revenue. However, a gradual recovery is underway, boosted by the tourism sector. In 2022, Singapore's tourism receipts amounted to about billion Singapore dollars, a significant increase over the previous year. To support this gradual recovery, the country's hotel industry is adopting innovative strategies. This includes the Hotel Industry Transformation Map (ITM) 2025, which focuses on creating innovative and sustainable hotel experiences to meet changing consumer demands. By capturing demand through new hotel concepts, promoting sustainability, and leveraging technology, the sector hopes to thrive in the post-pandemic era.

Singapore's hotel landscape

Singapore's hotel industry is a vibrant sector, with *** hotels spread across the country. As of April 2023, more than half of these hotels were small establishments with less than 100 rooms, while ** percent had over 300 rooms. The country is also known as one of Asia's most expensive destinations for business travelers, offering a range of high-end accommodations, including the highly-rated Four Seasons Hotel. However, for the budget-conscious traveler, the average price of a room in a budget hotel stands at * Singapore dollars.