Hospitality Industry is Joining Forces with the Indian Government to Combat COVID-19

By Ritvika Sethi
As the COVID-19 emergency continues to spread across nations, everyone is experiencing some level of uncertainty and disruption. On a more positive note, not all news is bad news. The hospitality and food & beverage (F&B) industry in India, along with the government, are constantly working to alleviate the impact of COVID-19. Our hotel and restaurant heroes are working tirelessly during these unprecedented times to help the country tide over the current crisis. Find out how!
 
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Japan Government to Include Tourism Campaign in Stimulus Plan

The Japanese government plans to include stimulus measures for the tourism industry as part of the JPY1 trillion emergency economic package. The measures will include a major six-month-long campaign to promote domestic travel after the coronavirus outbreak subsides. In addition, the government will subsidise about half of the travel costs for those who purchase travel products from travel agencies or on online reservation sites. Coupons that can be used at tourism facilities, souvenir shops, restaurants and for travel on various transport systems will also be issued. Furthermore, the government also plans to send advisers to accommodation facilities before the outbreak subsides to help solve management issues. Assistance will also be offered to organisers of cancelled tourism events to make the events more attractive moving forward. In a bid to attract foreign visitors, certified tour guides will be sent to hotels and other accommodation facilities to advise the staff on how to better serve foreign guests.

Airports of Thailand Announced Upgrade to Don Mueang Airport

Thailand-based Airports of Thailand Public Company Limited (“AOT”) has announced an upgrade of Bangkok’s secondary international airport, Don Mueang, during the COVID-19 crisis. The outbreak situation has led to a suspension of both domestic and international flights into and out of Don Mueang International Airport. According to the airport director, the refurbishment plan includes the interior of the international terminal which will cost approximately THB126 million (USD3.8 million). The plan involves three sub projects including THB99 million for improvement of air-conditioning system, THB18 million for re-carpeting job, and THB9 million for energy-saving LED lights. The bidding will start this month with an aim to commence construction in early July 2020 and complete by the end of this year. In March 2019, AOT also approved a master plan for the third-phase development of the airport with an estimated cost of THB39 billion (USD1.19 billion). Construction is slated to completed by 2024.

USD258 Million Relief Fund from Hong Kong’s Airport Authority to The Aviation Sector

Hong Kong’s Airport Authority (“AA”) is purchasing 500,000 flight tickets in advance from its four home-based airlines including Hong Kong Airlines, HK Express, Cathay Pacific, and Cathay Dragon, as part of the HKD2 billion (USD258 million) relief fund being put in place to ease off the liquidity pressure for the airlines and support service operators in the aviation sector. Once the pandemic is over, the tickets will be given away to international visitors and Hong Kong residents in the future as part of a market recovery campaign. In terms of aviation support services operators at Hong Kong International Airport (“HKIA”), AA is offering to buy their ground service equipment in cash to improve their cash flow.

Plans Finalised for Queensland’s Superyacht Berth

In the beginning of this year, the Queensland Government has announced it will provide AUD2 million to help deliver Australia’s largest superyacht berth. The total cost is estimated to be approximately AUD7.7 million. The development of the 163-metre berth, located at the west of the Southport Yacht Club (“SYC”) is soon to be underway, with plans being finalized. The construction period is predicted to last six months. The berth will allow the SYC to accommodate superyachts of up to 135 metres in length and 19 metres wide. The development is part of the AUD60 million project to develop The Spit on Gold Coast which currently hosts Marina Mirage, Palazzo Versace and Sea World. Alongside the building of the berth, an 11,000-square-metres plot of land, known as Jack Gordon Park, will be fitted with a pedestrian promenade as well as a new service lane to facilitate provisioning for visiting superyachts. The move is seen as an important part of the Queensland government’s ambition to establish the Australian state as a world superyacht hub by 2023.

Absolute Share Price Performance, as on 17 April 2020