IHG Announces Global Partnership with Alipay

InterContinental Hotels Group (IHG) has announced a global partnership with Alipay, China’s leading third-party online payment solutions company. The announcement builds on IHG’s existing partnership with Alipay, formed back in 2012, when IHG became the first international hotel company to launch a flagship e-store on Alitrip (ihg.alitrip.com). Through this partnership, IHG now becomes the first global hotel company to give Chinese guests the ability to pay via Alipay through all of IHG's online and mobile channels, as well as across all IHG hotels globally. The partnership, which has been agreed with Alipay’s parent company, Ant Financial will initially apply to more than 270 IHG hotels in Greater China, as well as a number of hotels around the world that participate in IHG’s China Ready Programme, offering a range of tailored services to Chinese travellers. The global rollout of Alipay will begin in 2017. IHG entered the China market more than 30 years ago and China is now its second largest market globally. The partnership will allow IHG to further capitalise on the significant increase in Chinese outbound travel.

Le Meridien Debuts in Putrajaya

Starwood continues its expansion into Southeast Asia with the recent opening of the Le Meridien Putrajaya in Malaysia. This new property becomes the third Le Meridien in Malaysia, after Le Meridien Kuala Lumpur and Le Meridien Kota Kinabalu. Located in Malaysia’s administrative center. Le Meridien Putrajaya features 353 rooms and suites, two swimming pools, a kid’s club, two restaurants and 15 function rooms including one large ballroom that measures approximately 2,500 square meters. On this occasion, Charlie Dang, Starwood’s Regional Vice President for Southeast Asia, commented, “Malaysia continues to be a bright spot for our growth and development. With the country’s growing influx of visitors, the opening of Le Meridien Putrajaya is set to be an inspired alternative to a traditional urban hotel stay.”

Hotel Openings in India this week

ibis Hyderabad HITEC City: AccorHotels and InterGlobe Hotels announced the opening of the ibis Hyderabad HITEC City, marking the debut of the ibis brand in Hyderabad. The hotel features 178 rooms, an all-day dining restaurant and a lobby bar. Hyderabad, known for its heritage, history, and iconic tourist attractions, is an important business and leisure destination in India. In recent years, the city has also emerged as a major MICE destination.

RS Sarovar Portico, Palampur: Sarovar Hotels recently launched the RS Sarovar Portico in Palampur, Himachal Pradesh. With 43 rooms and suites, the hotel features two restaurants, a bar, 8,000 square feet of meeting space, and a fitness center. The new hotel joins Sarovar’s portfolio of more than 75 hotels in 50 destinations across India. The tea capital of Northwest India, Palampur is an important leisure destination that attracts nature lovers and adventure enthusiasts. It is the gateway to numerous tourist and pilgrimage destinations in Himachal Pradesh.

First Oakwood to Open in Vietnam’s Ho Chi Minh City

Oakwood has marked its entry into the Vietnamese market with the signing of a new serviced residence in Ho Chi Minh City. Scheduled to launch in the fourth quarter of 2016, the Oakwood Apartments Ho Chi Minh City will be located in the city’s District 3, not far from the city center. The property will feature 68 units, ranging from studios to one- and two-bedroom apartments. Other facilities will include a gym, a restaurant and an exclusive lounge for residents. “Vietnam’s economy has been growing steadily with strong foreign direct investments. Oakwood Asia Pacific’s core business is in providing serviced apartments for business travelers, and this is a timely opportunity for us to debut in Vietnam,” said by Dean Schreiber, Managing director of Oakwood Asia Pacific. Oakwood currently manages a portfolio of 27 properties in 15 cities across eight Asian countries and territories in Asia.

South Korean Travelers Decline Trips to Europe as Terrorism Attacks Increase

After several terrorist attacks in major European cities and an attempted coup in Turkey, South Korean tourists appear to be reducing their trips to Europe this year. Several outbound travel agents in South Korea have reported declines as high as up to 20 per cent in group bookings. Overall, travel across Europe has declined by about 10 per cent after the series of terrorist attacks in 2016. Turkey, traditionally a popular destination among South Korean tourists, has become a much less desired touristic destination after the attempted coup in July 2016. Instead, South Koreans are gradually shifting their interests towards Southeast Asian destinations. The number of visitors to Taiwan was up 21.8 percent while Vietnam experienced an increase of 12.4 percent.

Absolute Share Price Performance, as on 25 Aug 2016