Recovery of the hotel industry in Singapore
Singapore's hotel industry is a major player in the accommodation sector, with a total of 378 hotels across the country. The COVID-19 pandemic resulted in a significant decline in room revenue from 4.21 billion Singapore dollars in 2019 to 0.91 billion Singapore dollars in 2021. However, the industry is gradually recovering, with a significant rise in tourism receipts, and international visitor arrivals up 3993.5 percent from September 2021. As a result, the hotel industry experienced a significant rebound. Hotel occupancy has increased to 75.48 percent in 2022, after dropping to 56.87 percent in 2021.Singapore's hotel industry plans to rely on sustainable and innovative hospitality experiences to drive its recovery. The Hotel Industry Transformation Map (ITM) 2025 strategy aims to capture demand through new hotel concepts, promote sustainability, and increase technology adoption. To achieve this, hotels are encouraged to develop new concepts and offer unique experiences to their guests, such as Fairmont Singapore's Razer Gamecation, a luxury gaming suite. Hotels are also supported to adopt internationally recognized sustainability standards, including energy, water, waste, and carbon management, and to promote sustainable consumption habits among their guests. Additionally, they are encouraged to adopt technologies to improve productivity and customer experience, such as STB's E-Visitor Authentication system, which provides a contactless check-in experience using facial recognition technology.
