Skift Take
Singapore and Hong Kong were once seen by many travelers as shopping-centric destinations. But Singapore has recast itself as an experience destination with many live events, widening its lead against Hong Kong in tourism.
Singapore's hotel market is surging ahead of Hong Kong's, capitalizing on travelers attending the city-state's major events while Hong Kong struggles.
Singapore has positioned itself as a premier destination for high-profile events and luxury travelers, while Hong Kong grapples with a softer corporate market and budget-conscious visitors, according to a report by Global Asset Solutions.
Why it matters: The rivalry between these two Asian travel hubs extends beyond banking, with hotel performance serving as a key indicator of international appeal.
By the Numbers: Singapore's first quarter hotel occupancy: 77% Hong Kong's first-quarter hotel occupancy: 73% Singapore's average daily rate was $314. Its luxury hotel sector is thriving, with record-breaking revenue per available room. Hong Kong's average daily rate was