Singha Estate to Open Mega Project in Maldives

Singha Estate, a Thailand-based real estate developer, has announced its partnership with Ibiza beach club operator – Café Del Mar to open a mega project in the Maldives. Set to be the flagship and the largest of its kind in the Indian Ocean, the Café Del Mar beach club will be spread over an area over 5,000 square meters. While staying true to familiar Café Del Mar components, the Maldives club will also feature new elements such as modern cooking technique using only premium local ingredients together with exotic component sourced by Singha Group. In addition to the beach club, Singha’s mega project will also bring in Hard Rock Hotel Group, with phase one slated for opening next year to include a yacht marina, retail outlets, hotels and a stretch of white sand beach.

Viceroy to Open its First Property in Vietnam

Viceroy Hotel Group has announced plans to open the Viceroy Da Nang Vietnam – its first property in the country. Set to open in 2020, Viceroy Da Nang Vietnam will be situated in the heart of Cocobay integrated resort development, just 20 minutes from the Da Nang International Airport. The hotel features 700 rooms, suites and condos; 8 restaurants and bars; meeting and event space, including three ballrooms; and a full-service spa and wellness center. Additionally, the Cocobay master plan features a convention center, an opera house, a sports arena, a beach club, retails stores, and numerous nightlife and dining destinations.

AccorHotels Launches the Novotel Lucknow Gomti Nagar in India

AccorHotels announced the opening of the Novotel Lucknow Gomti Nagar in Lucknow, Uttar Pradesh, earlier this week. Located approximately 24 kilometers northeast of Lucknow’s Chaudhary Charan Singh Airport, the hotel features 106 rooms, with base category rooms measuring approximately 27 square meters. On the food and beverage front, the hotel offers two restaurants, a bar, a delicatessen and 250 square meters of meeting space. Other facilities at the hotel include a rooftop swimming pool and a fitness center. Lucknow is the capital and largest city in the state of Uttar Pradesh, and is an important business destination.

Tourism Malaysia Collaborates with AirAsia to Promote Tourism

Tourism Malaysia and AirAsia recently signed a two-year Memorandum of Agreement (MoU) to jointly promote tourism in Malaysia. Through the partnership, both parties aim to generate awareness and widespread publicity to portray Malaysia as a preferred tourism destination, and to boost the country’s tourist arrivals and receipts. The collaboration between Tourism Malaysia and AirAsia ranges from brand advertising, promotional activities and campaigns, to facilitating familiarization trips for consumer, trade, media, travel agencies to Malaysia. Additionally, the joint efforts will leverage synergies in planning between tourism development and air transportation to provide better connectivity, market intelligence sharing and assistance for the development of Tourism Sector, as well as joint roadshows between both parties to market Malaysia to trade partners.

Indonesia’s Ministry of Tourism Signs MoU with Jetstar Group for Tourism Promotion

The Ministry of Tourism Indonesia has signed a Memorandum of Understanding (MoU) with Jetstar Group in an effort to promote tourism to Indonesia. The MoU aims to deepen cooperation on tourism and promote growth in international tourism to Indonesia. With around 80 per cent of international tourists arriving into Indonesia by air, Jetstar will have a significant role to play in enabling Indonesia achieve its target of 15 million and 20 million international arrivals in 2017 and 2019 respectively. The Ministry has also set a target of adding four million seats in 2017 and 10.5 million seats by 2019. Australia, Singapore and the Asia Pacific region are important source markets for Indonesia and the mutually-beneficial MoU will encourage investment in local aviation, tourism infrastructure, as well as boost employment opportunities. The MoU will also see increased flight services to Indonesia’s main tourism destinations, and joint marketing and promotional activities in Australia and Asia Pacific. Currently, Jetstar is one of the largest international airline groups operating into Indonesia, with 120 return flights per week serving an estimated 1.4 million passengers annually.

Absolute Share Price Performance, as on 12 May 2017