Expected decline in total revenue for hotels due to COVID-19 Singapore 2020
In a survey of Singapore hotel operators in March 2020 found that 24 percent of hotel operators expected a decline of between 61 to 70 percent on total revenue in 2020 due to the COVID-19 pandemic. Hotel performance in Singapore was up to expectations in January. However, circumstances deteriorated significantly since the COVID-19 outbreak and the worldwide travel restrictions. In an effort to help Singapore manage the spread of infections, several hotels have set aside entire compounds for stay-home notice returnees, transferring existing guests to other hotels from the same chain.
