AN ANALYSIS OF THE HOTEL INDUSTRY IN SINGAPORE

Abstract

This Academic Exercise is concerned with only a few important macro aspects of the hotel industry , Its coverage is by no means comprehensive or exhaustive, However, it does provide basic information and analysis of the status of the hotel industry in recent times in Singapore. Chapter One gives us a brief account of the economy of Singapore and the problem facing the hotel industry, The scope and limitations of the study are also reviewed in this chapter. Chapter Two seeks to underline the role of hotels in our national economy. A broad survey of the hotel industry's contribution to Gross Domestic Product (GDP), employment, foreign exchange and to the development of other sectors of the economy is made to assess the economic significance of the industry. As the demand for hotels is a derived demand of tourism, there exist a close link between the hotel industry and the field of tourism, Hence, for a better understanding of the demand for hotels, the next chapter provides a detailed examination of the main characteristics and profile of overseas visitors to Singapore. The trend in hotel development is dealt with in Chapter Four. A survey of the past trend and a projection of the future trend in hotel development is made in this chapter, The factors that brought this trend are also examined here. Chapter Five looks at the past performance of the hotel industry with the help of two indicators - occupancy level and earning capacity, A brief examination on the shortcomings and limitations of these two indicators for assessing hotel performance is also made. In the final chapter, an assessment on the future state of the hotel industry is attempted, This chapter concludes with recommendations for improving the state of hotel industry.