Singapore resorts see visitation rise again
Singapore's visitation continues to accelerate with 30.3 percent growth in May to 946,000, representing six consecutive months of record arrivals.
May’s visitation suggests positive inflection following 20.4 percent in April, 17.3 percent in March, 24.2 percent in February, and 17.6 percent in January.
Union Gaming Group said in a note to investors that inbound market growth included Hong Kong, 49 percent; Malaysia, 49 percent; and Taiwan, 47 percent. In absolute volume the top-five feeders were Indonesia (20 percent of total volume), India (12 percent of total), Malaysia (9 percent), China (8 percent), and Australia (7 percent). If Singapore visitation held May's 30 percent growth level for the balance of 2010, full-year inbound volume would approximate 12.2 million visitors, Union Gaming said. “While this may be a bit aggressive we do believe expectations for 11mm visitors in 2010 will prove too conservative.”
The Singapore Tourism Board also released hotel data, noting occupancy gains of 17 percentage points to 85 percent in May, or 84 percent since January with similar monthly gains with ADR +13.4 percent to S$209, while the luxury segment stood at S$341, and upscale rooms at S$239, Union Gaming noted.