GUEST room rates here may have been among the fastest growing worldwide, but Singapore hotels are still far from being among the world's most expensive to spend a night in.
According to corporate services company Hogg Robinson Group (HRG) UK's 2007 half-year hotel survey, the average room rates here stood at £105.86 ($327.34), registering a six-month increase of 12 per cent.
This makes Singapore the city with the second-fastest growth in Asia. World number one Mumbai saw average room rates rise 30 per cent to £147.55 because of limited supply in the upper end of the market to meet demand from the expanding banking, finance and IT sectors.
According to Singapore Tourism Board figures reported earlier, while hotels here did cross a historic threshold in June, room rates averaged $210 a night, the first time the $200 mark had been breached.
This represented a 22.6 per cent jump in average room rates over June last year.
Even with the higher figure cited by the survey, Singapore hotels are still comparatively affordable for visitors, at least when matched up against the world's 10 most costly countries.
The most expensive city to sleep in is Moscow, where room rates averaged £236.06, up from last year's £220.57.
Bangalore, with an average room rate of £162.04, was the most expensive city in Asia and fifth on the global scale.
Another Asian city that made it to the top 10 was Hong Kong, ranked 8th with an average room rate of £153.86.
With demand outstripping supply, the growth in global average room rates looks set to continue in the near future, noted HRG.
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