According to pipeline data from STR, the number of hotel rooms under construction in the U.S. has declined or remained flat year over year for three consecutive months. Overall, there were 179,979 rooms in construction across 1,400 hotels for the month of December.
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Hotels in Munich reported positive year-over-year results during the month of December, according to preliminary data from STR. Occupancy increased 0.3% to 68.7%, ADR grew 4.9% to 118.24 ($143.47) and RevPAR saw a gain of 5.2% to 81.27 ($98.61).
Hotels in Singapore reported mixed year-over-year results in December, according to preliminary data from STR. Occupancy grew 0.3% to 76%, while ADR dropped 2.1% to 275.02 Singapore dollars ($206.76) and RevPAR decreased 1.8% to 209.01 Singapore dollars ($157.13).