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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.

Expected decline to total revenue among hotels in Singapore due to the COVID-19 outbreak as of March 2020

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Sources

Release date

March 2020

Region

Singapore

Survey time period

March 2020

Number of respondents

66 respondents

Special properties

among hoteliers in Singapore

Supplementary notes

Original question: "Considering the influence of the COVID-19 outbreak, for your hotel, what is your expectation for percentage growth/decline for full-year 2020 (FY2020) vs full-year 2019 (FY2019)? [Total Revenue]"

Respondents accounted for a total of 23,924 rooms across 6 different classification of hotels. They accounted for 40% of Singapore's total gazetted supply.

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Statistics on "Coronavirus (COVID-19) pandemic in Singapore"

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