Singapore hotel room prices highest in 10 years; ranging S$259/night on average

Staycations are becoming more expensive in Singapore, with accommodations costing S$259 a night on average.

Bloomberg reported on Monday (Sept 5) that hotel rooms in the country are now the most expensive in nearly a decade.

Singapore seeks to position itself as the tourism and business destination in Asia, said Bloomberg, noting the upcoming high-profile events in the country.

From the Formula One Grand Prix to performances from Westlife, Green Day and other big names in the music industry, the island-nation is “roaring back to life”, said the publication.

The easing of Covid-19 restrictions has also welcomed more visitors, with arrivals rising for the sixth consecutive month. There were 726,601 arrivals in July compared to 543,733 in June, according to the Singapore Tourism Board.

This has caused hotel prices in July 2022 to rise nearly 70 per cent year-on-year compared to the highest since Sept 2012.

Still, luxurious stays in Singapore are relatively cheaper than in other big cities.

For example, a five-star hotel in Hong Kong costs S$387 and S$522 in Tokyo, while a similar room costs S$344 per night in Singapore.

The report also noted that cities like Sydney and Seoul offered cheaper accommodations, with five-star hotels charging S$318 and S$256 per night, respectively.

Netizens commented on the findings, noting this is to be expected as businesses try to make up for what was lost during the Covid-19 pandemic.

Many noted that the rise in accommodation prices was geared toward tourists and not so much toward locals.

“We Singaporeans have done lots of staycations during these three years supporting the hotels. It’s now for the tourists. We are already heading overseas. The norm is back,” noted Facebook user Jason Tey.

“Don’t worry. Just hop over the causeway, and you will get a discount of 300% with the exchange rate,” added Facebook user Derek Lim, proposing an alternative. /TISG

20 retired SBS buses transformed into staycation resort at Changi Village, to open in 2023