Thursday, September 29, 2011


Hospitality: Tourist arrivals in SG seen moderating in 2012 if the weak global economic environment continues.

DBSV expects SG to see some 13.5-14m visitor arrivals in 2012, translating 4-7% increase YoY while RevPAR for the hotel industry is likely to be flat, as opposed to previous estimates of 5% growth, with average occupancy holding at 81-84%. Top picks are CDL HTrusts, Ascott Reit, UOL and Genting Spore.

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