COVID-19 Impact on Hotels in Asia Pacific

By Chee Hok Yean, Chariss Kok Xin and Peggy Lee
This article provides an overview of COVID-19 impact on hotels, common measures to stem the spread of the coronavirus, government stimulus packages and various incentives put in place by ten countries across Asia Pacific.
 
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COVID-19 Asia Pacific Hotel Industry Response Survey

By Chee Hok Yean, Chariss Kok Xin and Peggy Lee
The purpose of the survey is to gather responses on the impact of COVID-19 including the measures taken during COVID-19 and in preparation for post COVID-19 in the hospitality industry across Asia Pacific.
 
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Singapore Tourism Sector to Benefit from SGD20 Million Package

The Singapore tourism sector is set to benefit from the SGD20 million Marketing Partnership Programme launched by Singapore Tourism Board (“STB”) to help tourism businesses maintain their international presence and build demand during market recovery. STB will support part of the marketing costs, and award additional funding to companies that collaborate with other tourism stakeholders to create value-added experiences. Launched in April 2020, Phase 1 of the program was to provide funding for half of hotel’s qualified marketing costs. In Phase 2, funding will be increased to 70% of qualified marketing costs, and the program will be extended to attractions, in-bound travel agents and the MICE (meetings, incentives, conferences and exhibitions) sector. Other initiatives launched by STB include the Tourism Transformation Index, a business self-diagnosis tool; ThreeHouse, an innovation space; Singapore Tourism Analytics Network, a site to access tourism-related data; and digital marketing training webinars on STB Marketing College. There is also the SGD2 million SG Stories Content Fund for local and international digital video content creators. Additionally, to help travel agents with cashflow, STB has reviewed the legislative framework to reduce certain regulatory compliance costs. From April 8 till December 31, the minimum financial requirement for travel agents will be reduced by 90 percent.

Newcastle QT Hotel Approved as part of AUD700 Million Redevelopment

The Joint Regional Planning Panel has approved the city’s first premium hotel as part of the AUD700 million redevelopment of the David Jones building on Hunter Street, Newcastle. As part of Australia-based Iris Capital's proposed East End precinct, the building will be converted into a new 106-key QT hotel, featuring a boutique rooftop bar, as well as a QT signature dining concept and bar. According to Iris Capital’s CEO Sam Arnaout, the hotel will retain the David jones department stores in the design element and offers the city's first rooftop bar with uninterrupted views over the harbour. Slated to open in late 2021, the hotel is to be included in the first phase of the four city block development, which also features three other separate residential buildings comprising 212-unit luxury apartment above an Australia-based supermarket chain, Woolworths-anchored retail precinct, and a forum. Phase 2 consists of 117-unit luxury apartment atop the retail precinct, of which construction is already underway, while phase 3 and 4 of the master plan which includes approximately 300-unit apartment and a retail compound is still in planning.

SkyCity Adelaide Unveils New Luxury Hotel Brand “Eos” as Part of AUD330 Million Revamp

New Zealand-based SkyCity Entertainment Group has announced a new luxury hotel brand, Eos by SkyCity, to be the centerpiece of AUD330 million SkyCity Adelaide’s renovation. Slated for completion in late 2020, the twelve-storey Eos by SkyCity will feature 123 rooms, with size ranging from 45 square metres up to the 305-square metre Grace Villa. Other facilities include two signature restaurants, a spa and wellness centre, a swimming pool, a fitness centre and an event space for up to 650 delegates. The hotel will provide a range of signature experiences for guests including in-room styling, post-flight treatments, personal training, an on-call mixologist providing an in-room custom cocktail service and a team of chefs to prepare any meal upon request. Due for completion in 2021, the revamp will also feature a variety of new restaurants, bars and cafés, function space for 750 people, a 1,500-space car park and improved back-of-house facilities.

Absolute Share Price Performance, as on 1 May 2020