This came even as international visitor arrivals picked up for the month.
October's average room rate (ARR) dropped sequentially to $275.19, down 12.9 per cent from $315.79 in September. Still, it was up 1.7 per cent year on year.
Revenue per available room (RevPAR) similarly slid 14.4 per cent to $225.07 in October, from $263.06 in September. Year on year, it grew 6.7 per cent.
As a whole, room revenue in October also fell, down 13.3 per cent month on month to $442.7 million, from $510.8 million in the previous month. Year on year, it was up 8.8 per cent.
September's ARR, RevPAR and overall room revenue remained the highest in the year to date.
This story is from the November 30, 2024 edition of The Straits Times.
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This story is from the November 30, 2024 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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