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Posted: 09 Jun 2010 | 6:00 am
As the 'red' impact continues to suppress average rate growth in Phuket, Singapore hotel owners are looking at a 10-15% increase in 2010 as per leading consulting firm HVS.
While many naysayers have thought the island republics broad ambitions with the mega hotel destinations Marina Bay Sands and Sentosa's Resorts World would result in lower rates, the opposite has proved true as critical mass has increased demand and rates have shot up.
At the same time Singapore's hotel transaction market has been on fire with sales of the iconic Raffles Hotel, Swisshotel Merchant Court and now the IBIS which looks to trade at an extremely high number.
A column featuring environmental issues and conservation around the island. Click here for more Green Reports check out the latest story from the leading experts:
While John Hardy and his Ubud Green School and Green Village have been at the groundswell of sustainable building materials, the area has sprouted other pioneering initiatives.
While we hope for the best that Phuket's new airport expansion will have some green focus, it's encouraging to view Singapore's Changi as setting a global standard.
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