Summary: Singapore hotels are shifting towards equilibrium as tourism rebounds, with year-to-date arrivals tracking the lower end of STB targets. Analysts anticipate further normalization in 2026 with mid-single-digit growth in arrivals, driven by higher China tourists and recoveries in SGD-sensitive markets. Revenue per available room (RevPAR) has eased 4% y-o-y amid softer room rates and increased supply, with analysts expecting a 2% y-o-y gain in 2026 led by firmer occupancy.

Link: https://www.theedgesingapore.com/capital/brokers-calls/singapore-hotels-are-shifting-towards-equilibrium-dbs