Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/221636
Title: BOUTIQUE HOTELS IN SINGAPORE : MARKET ANALYSIS AND VALUATION
Authors: HO YI LIANG CEDRIC
Keywords: Real Estate
Master (Real Estate)
2009/2010 RE
Issue Date: 1-Jun-2010
Citation: HO YI LIANG CEDRIC (2010-06-01T10:20:53Z). BOUTIQUE HOTELS IN SINGAPORE : MARKET ANALYSIS AND VALUATION. ScholarBank@NUS Repository.
Abstract: Boutique hotels in Singapore are defined to be of stylish architecture with specialised themes, commonly housed in older buildings, small in size, unique in character and rich in services. They are commonly housed in conservation shophouses although burgeoning tourism demands have seen the use of other disused buildings and newly built structures. While hotel performance measures (ARR, AOR and RevPAR) across all hotels are expected to shrink in 2009 and 2010, boutique hotels will likely outperform other hotels due to their small size and niche clientele market of business travellers who tend to be less price-sensitive. Upcoming supply of top tier hotels will pose competitive risks but strong demand for boutique hotels is expected from the areas of BTMICE and Leisure, while Medical Tourism holds great untapped potential. A consumer survey revealed that boutique accommodation can command market premiums over standard hotels. Top attributes listed were location, services, uniqueness, comfort and quality. The information from this survey will allow boutique hotel owners to gain a deeper understanding of what is needed to gain a competitive edge. From the results, the implications and ways to market boutique hotels effectively are also discussed. Finally, a valuation of The Nostalgia Urban Boutique Hotel was carried out in which the hotel was valued at $22.1 million. Salient valuation differences between boutique and standard hotels in the areas of room revenue, Food & Beverage income, other income from facilities, staff costs and discount rate are discussed.
URI: https://scholarbank.nus.edu.sg/handle/10635/221636
Appears in Collections:Master's Theses (Restricted)

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