Singapore Tourism May Suffer from Haze

Just a week before the highly anticipated Singapore Grand Prix, which will be held between the 18th and 20th of September, the worsening smog from the forest fires in Sumatra, Indonesia continues to engulf the city-state. The Pollutant Standards Index (PSI) has reached a high level at 249 on September 14 this year. The Grand Prix is expected to attract millions of tourists from the region and help offset the falling number of tourist arrivals to Singapore. The occupancy levels of hotels around the race circuit will steadily increase over this weekend as they are almost fully booked during the event. Although so far the impact of the smog is not as severe as the acrid haze situation in 2013 when Singapore saw its tourist attractions such as The Singapore Flyer and Gardens by the Bay halt their outdoor operations, however, in the long term this may still have an adverse impact on Singapore’s attractiveness as a clean tourist destination.

Fourth Runway at Beijing Airport to Be Operational by 2018

Beijing Capital International Airport (BCIA) will soon start building a fourth runway in order to ease the increasing pressure on air transportation. According to Boli Shi, General Manager of BCIA, the new runway will be operational by 2018 and will serve as a short auxiliary runway for the east runway, mainly handling arriving aircrafts. The new runway, projected to add about 8 million passengers annually (BCIA’s throughput capacity is estimated to reach 90 million passengers by this year end), will relieve the burden on existing facilities as well as improve the on-time flight rate. Additionally, the first phase of Beijing’s second international airport is also expected to open in 2019 and will have an initial capacity to handle 45 million passengers per annum. Post completion of these two major projects, Beijing’s air transportation will be significantly upgraded by 2020. 

Renaissance Debuts in North India with the Opening of Renaissance Lucknow

American hospitality group Marriott opened the Renaissance in Lucknow, the capital of Uttar Pradesh and an important cultural and business hub in North India. The hotel is the first Renaissance in North India and the second property under this brand in the country. Located in the city center, the Renaissance Lucknow offers 112 rooms, two restaurants, a patisserie and a rooftop bar, 26,000 ft2 of meeting space including outdoor areas, a fitness center, and a rooftop infinity pool.

Plateno Group Signs Its Second Portofino in Sri Lanka

China-based hotel company Plateno Group has entered into a management contract with Welcome Regency Ltd. to manage a 102-room resort in Passikudah, Sri Lanka. The resort is anticipated to commence operations in November 2015 and will be called the Portofino Ming Gee Resort Passikudah. The property will feature two F&B outlets, a spa, a swimming pool, and a water sports and diving center. The hotel will become the second Portofino in Sri Lanka, with the first having opened in Tangalle earlier this year.

Dusit Expands Its Presence in Oman

Dusit International, a Bangkok-based hospitality group, continues the expansion of its portfolio with the recent signing of its first property in the Sultanate of Oman. The dusitD2 Palm Mall Muscat, scheduled to open in 2017, will be located within the mixed-use Palm Mall development that will offer unique attractions consisting of Oman’s first snow village, the Sultanate’s largest aquarium and a shopping mall. Dusit has entered into a management agreement with the Al Jarwani Group, a leading developer in Oman, to manage this new hotel which will feature 150 guest rooms and 100 private suites, a gym, a spa, a pool, a ballroom and meeting rooms.

Absolute Share Price Performance, as on 17 Sept 2015