Scoot to Increase Flight Frequency to Gold Coast

Singapore-based carrier Scoot Tigerair Pte Ltd (“Scoot”) is set to increase the frequency of its Gold Coast-Singapore service from four times to five times per week, starting April 2018. The additional service will increase the capacity by an estimated 19,000 passengers and support up to 170 jobs over the next 12 months. According to Australia Tourism Industry Development Minister Kate Jones, the increased capacity will allow both nations to grow and connect better, which is a major focus for Trade 2018 – the overarching Gold Coast 2018 Commonwealth Games Trade and Investment Program. Currently, Australia welcomes more than 30,000 visitors a year from Singapore to the Gold Coast and the increased capacity is a welcoming addition, especially with the 2018 Commonwealth Games approaching. Australia will also benefit from the increase in connectivity to Singapore as the direct service will allow them to attract more travellers from throughout the region given Singapore’s position as an international transit hub.

Japan’s Hotel Industry Expanding Fast with Non-Hotel Operators Entering the Fray

Worries over a shortage of accommodations ahead of the Tokyo 2020 Olympic and Paralympic Games are quickly becoming a thing of the past as non-hotel operators are entering the fray and joining the hotel business. Ranging from apparel brands to wedding service providers, these are companies that have come up with new Japanese-style interior design hotels in an attempt to tap into the increased demand for accommodations among foreign tourists. These newcomers include major apparel company Stripe International Inc., which opened Hotel Koé in Shibuya, wedding service provider Take and Give Needs Co., which opened Trunk Hotel also in Shibuya, and outdoor gear provider Snow Peak Inc., which opened a glamping facility in Yokosuka, Kanagawa Prefecture. In addition, Ryohin Keikau Co., operator of the Muji chain of household goods stores, has opened the 79-key Muji Shenzhen and will be operating the Muji Hotel in Ginza, Tokyo in spring 2019. Going forward, the addition of new hotel supply coupled with the expansion of the minpaku private lodging market could successfully tackle the shortage of accommodations leading to 2020.

Hilton Makes First Foray into Mandalay with 231-key Hilton Mandalay

US-based Hilton has made its first foray into Mandalay, the second largest and fastest growing city of Myanmar, with the opening of the Hilton Mandalay. Facing the fabled Mandalay Hill and the Mandalay Palace at the former royal capital, the 231-key hotel joins two other Hilton hotels operating in Myanmar, Hilton Nay Pyi Taw and Hilton Ngapali Resort & Spa, to bring Hilton’s portfolio in the country to three. Many of Hilton Mandalay’s 231 guestrooms have private balconies, with select rooms including expansive terraces and/or kitchenettes. The hotel also features five F&B outlets, a swimming pool, a 24-hour fitness centre, and flexible meeting space that includes a 256-square metre ballroom. Hilton’s signature spa, eforea spa, is scheduled to open later this year.

Singha Estate Announces Plans to Start a Real Estate Investment Trust

Thailand’s publicly listed Singha Estate PLC has highlighted its vision of being the “Premier Property Development and Investment Holding Company” with consolidated earnings of 20 billion baht by 2020. This will be achieved through a number of strategic moves including the restructuring of S Hotels and Resorts (SHR) into a public corporation by 2019 and the conversion of the Suntowers into a real estate investment trust (REIT) within 2020. The upcoming investment also includes the acquisition of Outrigger Hotels Hawaii worth 11.07 billion Baht. In 2017, the company’s assets reached 40.91 million baht from 11.29 million baht in 2014, while earnings increased to 5,858 million baht in 2017 from 370 million baht in 2014.

Absolute Share Price Performance, as on 06 April 2018