Five Key Takeaways | Tourism, Hotel Investment & Networking Conference (THINC) Sri Lanka 2016

Hosted by HVS, the inaugural THINC Sri Lanka conference concluded successfully on 11 February, 2016. It attracted more than 175 delegates from across 14 countries, comprising an interesting mix of prominent regional and global industry players. The conference kick started the year with insights into the country’s changing tourism and hospitality landscape, and also identified opportunities for future investment and development by key industry stakeholders.
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Meliá Expands Its Presence in Indonesia with the Signing of Meliá Bintan

Meliá Hotels International announced the signing of Meliá Bintan, with Kurnia Land, on 7 March, 2016. This is the group’s 15th hotel in Indonesia and second on the island of Bintan. The new development represents the hotel group’s growing presence in the country, and is another milestone in its development and growth strategy in Indonesia and Asia. Meliá Bintan is located in a coastal enclave, with 280 rooms, villas and a large-scale convention center covering an area of eight hectares. Managed under the Meliá Hotels & Resorts brand, the hotel will have the brand’s signature amenities and facilities. Currently, Meliá Hotels International manages 32 hotels in the region, with seven of them due to open this year. The group aims to double its portfolio in the Asian region in the next three years.

Ascott Grows Singapore Portfolio with Citadines Fusionopolis

The Ascott Limited was awarded the lease to operate a 50-unit serviced residence located in one-north business park, Singapore’s research and development hub, which houses more than 400 companies. The currently operating serviced residence will be rebranded to Citadines Fusionopolis Singapore from 1 April, 2016. This new addition will strengthen Ascott’s presence in Singapore, which is one of the serviced residence brand’s top revenue-generating markets globally. After the opening of Citadines Fusionopolis, the 20-storey Ascott Orchard Singapore is set to open in early 2017. The two new openings will increase Ascott’s Singapore portfolio to eight properties.

BHMA to Expand Its Presence in Thailand and Abroad

Bespoke Hospitality Management Asia (BHMA) plans to sign 20 hotel management agreements per year with domestic and overseas hotels to cash in on the growth of the tourism industry. In the next three years, the group will operate 44 hotels and resorts, comprising more than 3,000 rooms. According to Anthony McDonald, Chief Executive Officer, the group will expand its presence abroad to manage hotels in Myanmar, Luang Prabang and Siem Reap this year. The group is also eyeing opportunities in the Middle East, Europe and Japan. The group’s expansion will mostly be in the form of hotel management agreements, while some hotels may be joint ventures. BHMA currently operates hotels under four brands including X2, X2 Vibe, Away and Golden Tulip. Recently, the group expanded its ‘Away’ portfolio with the opening of the 34-room Away Chiang Mai Hot Spring Resort.

Chinese Premier Vows to Embrace a New Era of Mass Tourism

Last week, Chinese Premier Li Keqiang delivered the ‘Report on the Work of the Government’ at the Fourth Session of the 12th National People's Congress (NPC), People's Republic of China. Among several key declarations, the Chinese Government announced a few critical action steps, policy measures and reforms in order to bolster the country’s tourism growth, thereby emphasizing a renewed focus on enhancing its tourism industry. Li Keqiang said that some of their fundamental imperatives would be to tap the potential of domestic demand to increase the space for development; achieve a moderate expansion of aggregate demand; adjust and reform the composition of demand; strive for better alignment between supply and demand, and between investment and consumption, and to achieve greater balance in the development of urban and rural areas and of different regions. Other action steps would include a reduction in import tariffs on some consumer goods and increasing the number of duty-free stores; strengthening development of tourist and transport facilities, scenic spots, tourist sites and recreational vehicle parks, and ensuring that the tourist market operates in line with regulations, in an effort to usher in a new era of mass tourism.

Absolute Share Price Performance, as on 10 Mar 2016