Cushman & Wakefield is pleased to announce that it has been ranked as the No. 1 real estate investment brokerage firm for hotel transactions in Singapore based on sell-side and overall transaction volume, according to MSCI Real Assets 2024 Global Broker Rankings report. It is also ranked among the top 3 brokerage firms by sales volume for retail, industrial and total sell-side brokerage in Singapore.
Driven by a strong recovery in Singapore’s tourism sector, hotel transaction volume has jumped over 80% year-on-year in 2024, and Cushman & Wakefield represented 45% of the hotel investment brokerage transactions, the highest among all leading brokerage firms, according to MSCI.
According to Cushman & Wakefield’s latest Singapore Market Outlook 2025 report and latest market data, Hotel Revenue per Available Room (RevPAR) grew by 2.8% in 2024, as overall occupancy rates continue to recover towards pre-pandemic levels on the back of higher tourist arrivals and a steady return of Chinese travelers. The Luxury segment enjoys the strongest pricing power, with the average room rates increasing by 8.7% in 2024. Amidst continue tourism recovery and a limited hotel supply pipeline, hotel RevPAR should grow further in 2025, with a continued recovery though this would be driven by higher occupancy rates.
Shaun Poh, Executive Director, Head of Singapore Capital Markets at Cushman & Wakefield, said:
“We are pleased to be recognized for our leading position in Singapore’s growing hospitality sector. Singapore's hotel market, underpinned by steady demand and limited supply, is attractive for capital seeking stable assets, particularly as interest rates ease. Furthermore, the positive re-rating of hotel rates post-pandemic, coupled with the growing trend of co-living, has created opportunities for investors to undertake strategic asset enhancement initiatives, unlocking additional value potential.”
Catherine Chen, Head of Capital Markets Research, Asia Pacific, at Cushman & Wakefield, added:
“Hotels and serviced apartment assets in top global gateway cities provide excellent diversification, flexibility, and resilience in an investment portfolio, especially in times of uncertainty. Unlike other traditional commercial real estate assets, the unique physical experience hotels provide cannot be easily substituted, making them more resilient to the increasing digitalization of today’s lifestyle. In addition, the flexibility of room rates allows owners to quickly adjust pricing in response to market demand, especially during periods of growth, to maximize revenue."
Cushman & Wakefield has led the transaction of two major hotel and serviced apartment deals– Citadines Mount Sophia and Capri by Fraser Changi City, and two other transactions involving conversions to coliving assets – Stamford Court and Serene Centre. These transactions signal a growing demand from institutional investors and operators for hospitality assets in Singapore, driven by a strong rebound of international travellers to Singapore and a strong line up of exciting events and activities.
