The Singapore Tourism Board has moderated its forecast for 2015 to 15.5 million visitor arrivals. However, with the additional room supply in 2015, the hospitality sector could be challenging.
The launching of key initiatives such as a S$35 million partnership with Changi Airport Group and a S$20 million global marketing campaign aim to improve visitor arrivals.
Group revenue for 2Q 2015 decreased marginally by 3% to $19.1 million, from $19.7 million in 2Q 2014. This was due to absence of revenue from development property sold, partially offset against higher revenue from Hotel Investment and Management segment and rental income from investment properties in the Property Investment and Development segment. Read More