Singapore May Face Hotel Shortage
AUGUST 21, 2006. Singapore could face a shortage of hotel rooms in the future as the supply will not be sufficient to meet visitor projections by the tourism authority, says Jones Lang LaSalle Hotels.
"We estimate about 9,830 rooms to be added to the industry up to 2010. (If) tourist arrivals double to 17 million in 2015 as targeted by the Singapore Tourism Board, we will need another 20,000 rooms to meet this massive influx," Chee Hock Yean, an executive vice president at JLL Hotels, said at a press briefing.
She also predicted that average room rates in Singapore could rise 5%-10% next year. According to STB data, the average room rate in Singapore increased 17% to S$170 a night in June.
Singapore currently has just over 30,000 hotel rooms, not including those in smaller establishments that rent rooms by the hour, and the number will have to double by 2015 to meet the tourism board's projection, Chee said.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
