Following a profound transformation into a leading hotel market in the Asia Pacific region, concerns are again at the forefront of hoteliers minds in Singapore. STR Global recently announced that in August this year, room supply increased by 5.2%, the highest since December 2013. Concerns on an ever growing supply and a recent trend of declining average room rates and hotel profitability have resulted in some negative media and talk of a need to cap future hotel supply growth. However, Horwath HTL believes that the Singapore market remains strong and resilient and that the future hotel supply pipeline does not represent the risk that is perhaps being perceived in the market. Now is not a time for Singapore hoteliers to panic and compete on price.
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Damien Little is a Director of Horwath HTL in Asia and is based in the Australia office. He has previously been based in both the Beijing and Hong Kong offices of Horwath HTL, having worked for the company for the last 15 years. Damien has 17 years of consulting experience and has significant experience in financial modeling. During this time he has undertaken hotel related projects in 17 countries across the Asia Pacific region, being involved in more than 400 projects.
Damien has been involved in projects across all industry segments including 5 star city hotels, golf resort properties, mid-scale regional hotels, budget hotels, backpacker accommodation, restaurants and clubs. He has significant experience in the China market having traveled to more than 70 cities across the country. Prior to joining Horwath HTL in 2001, Damien worked for both Arthur Andersen and PricewaterhouseCoopers in Sydney.
He is also a frequent speaker at industry related conferences around the region and has published numerous research articles in regional industry publications.