Eight Asian budget carriers have forged the world’s largest and first ever pan-regional LCC alliance. Christened Value Alliance, the group comprises eight airlines – Tigerair Australia; Cebu Pacific (including subsidiary Cebgo) in the Philippines; South Korea's Jeju Air; Japan’s Vanilla Air; and Thailand's Nok Air and NokScoot. Together the eight members span a third of the globe, serving more than 160 destinations from 17 hubs with a collective fleet of 176 aircrafts across the Asia Pacific region. The partnership is viewed as a strategic move to create greater revenue opportunities by leveraging on the strength of each partner’s website in its home market, in order to increase the geographical reach of its members and to give smaller LCCs more heft against heavyweights budget carriers AirAsia and Jetstar. The alliance will provide customers with a one-stop shop experience wherein the revamped booking interface will offer a comparative view on best available fares and ancillary choices rendered on flights from any of the member airlines. The cooperation model will however be strictly confined to enhancing sales and ticket distribution among members, unlike comprehensive full-service carrier alliances, such as Star Alliance, Oneworld and SkyTeam, which are far more extensive and include cooperation in aspects like marketing, procurement and mileage transfer, along with common quality standards and service offerings.
Carlson Rezidor Hotel Group has acquired full ownership of Country Development & Management Services (CDMS), the joint venture between Country Inns & Suites by Carlson and Chanakya Hotels. The Country Inns & Suites by Carlson brand in India, along with four Radisson Blu hotels managed by CDMS in India, will now be managed by Carlson Hotels South Asia, the Indian affiliate of Carlson Rezidor Hotel Group. According to the group, the acquisition was a strategic move in order to strengthen their position as a leading international hotel operator in the country. Globally, the Country Inns & Suites by Carlson brand has over 500 hotels in operation and in the pipeline. In India they currently have 24 operating hotels and 11 in various stages of development. Carlson Rezidor Hotel Group has 117 operating and under development hotels in India, and post this consolidation, they aim to have 170 hotels in operation and under development by 2020.
AccorHotels has expanded its budget hotel portfolio in Thailand with the signing of a new ibis Styles hotel on Samui Island. AccorHotels has announced its partnership with Destination Resorts Company Limited to manage ibis Styles Samui Chaweng. Slated to open in 2017, ibis Styles Samui Chaweng Beach will be located in the same development as the Hard Rock Cafe Samui, and will be adjacent to the Central Festival Samui shopping mall. The resort is within a short walking distance to Chaweng beach and a 10-minute drive from Samui International Airport. The resort will offer a total of 129 rooms, a market-style restaurant, a swimming pool, a ground-floor bar and a rooftop bar. Currently, there are two ibis Styles properties in Thailand with five more in the pipeline. The other new ibis Styles are expected to open in Bangkok’s Sukhumvit and Khao San Road areas, Phuket, Pattaya and Chiang Khong.
Marriott International announced the opening of its fifth hotel in Pune, The Pune Marriott Suites in Koregaon Park, Pune. Owned by Panchshil Realty, the hotel features 200 suites, two restaurants, a lounge, a fitness center, an outdoor swimming pool and a wellness center. The prime focus of the hotel is on the extended stay segment in addition to business and leisure travelers. Opened in 2009, the property was earlier operated by Oakwood under the Oakwood Premier brand.
Chinese expenditure on tourism is expected to reach RMB8 trillion ($1.22 trillion) by 2020, contributing more than 10 percent of the growth in the country's GDP, according to a recent report on the country's tourism development. Statistics reveal that the number of annual domestic trips has increased from 200 million in 1984 to 4.1 billion last year, an average annual growth of 10.2 percent, while domestic tourism revenue has increased from about RMB8 billion in 1985 to more than RMB3.42 trillion last year, an average annual growth of 22.4 percent. In 2014, the number of outbound trips made by residents on the Chinese mainland exceeded 100 million. The number stood at 120 million last year, a marked surge compared with 2.98 million in 1992, as per government figures. Further, the State Information Center reports that the added value of the tourism industry totaled RMB7.11 trillion, accounting for 10.5 percent of the nation’s GDP, compared with 9.4 percent in 2012.
Closing Share Price as at
19 May 2016
12 May 2016
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