Singapore-based flag carrier airline, Singapore Airlines (“SIA”), and Japan-based full-service carrier, All Nippon Airways (“ANA”), have signed a joint venture agreement on 31 January 2020 which will allow SIA and ANA to further strengthen their corporation on services between Singapore and Japan, as well as key markets including Australia, India, Indonesia and Malaysia. Currently, the airlines’ existing partnership focuses on codeshare flights, mileage programs, lounge access, and coordination on check-in baggage and connecting flights. The recent joint venture agreement will allow both airlines to offer travellers more seamless access to flights in their respective route networks, a broad range of joint fare products, and tie-ups between frequent flyer program.
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The Thai Government has announced plans to build a museum dedicated to the royal cremation of His Majesty, King Bhumibol Adulyadej, on Klong 5 in Pathum Thani's Klong Luang district. The investment is estimated at THB864 million (USD27 million). Located on a 32-hectare plot of land, the museum will house the Supreme Artist Hall, the King Rama IX Archive, and the national museum warehouse of the department. The two-storey building, spanning 7,200 square metres, will resemble Songtham Pavilion, the royal crematorium, and will consist of five major zones to exhibit every angle of the royal cremation. The museum will display art pieces and materials from the Ayutthaya to the Rattanakosin period, including the royal urn, royal coffin, and 132 sculptures. The construction is anticipated to take about two years and the museum is expected to open in 2022.
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The 650-key Berjaya Times Square Hotel Kuala Lumpur is undergoing a MYR15 million makeover to upgrade all its rooms, ballrooms and meeting rooms. According to Malaysia-based Berjaya Hotels & Resorts’ chief operating officer, Foo Toon Kee, the refurbishment of the guestrooms will be conducted in two phases. 88 rooms under the first phase of the program will be ready by May 2020 while the second phase is due to complete by the second half of 2020. The all-day dining Big Apple Restaurant, Manhattan ballrooms and meeting rooms will also be upgraded to provide high quality facilities for the MICE (meetings, incentives, conferences, exhibitions) delegates. The entire makeover program is due to complete by the end of 2020 to leverage on the anticipated visitors generated from the Visit Malaysia 2020 campaign and Malaysia Healthcare Year 2020, promoted by The Ministry of Tourism, Arts & Culture of Malaysia.
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China-based Huibang International Investment Group has planned to complete Huangshan International, a high-end mixed-use development in Phnom Penh by the end of 2023. The development will feature residential condominiums, offices, and star-rated hotels. It will also come with catering services, leisure and business centre. Situated on National Assembly Street, within the Bassac community, the 47-storey development will be adjacent to the Parliament of Cambodia and several embassies. Several landmark attractions are within five minutes’ walk, including the Royal Palace, the Riverside area, the Independence Monument, and the city’s largest shopping mall, the AEON 1. The development will be managed by China-based Huipai Golden Key.
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India’s Union Budget 2020 has proposed an allocation of INR25 billion for the tourism sector and an additional allocation of INR 31.5 billion for the Ministry of Culture in the financial year 2020-21. The government has announced plans to increase investments in infrastructure development, including the development of 100 new airports by 2024 and rail network for iconic destinations. To deepen skills in heritage tourism in the country, the first Institute of Heritage and Conservation with the status of a deemed university will be set up and operated under the Ministry of Culture. Five archaeological sites including Rakhigarhi in Haryana, Hastinapur in Uttar Pradesh, Dholavira in Gujarat, Shivsagar in Assam and Adichanallur in Tamil Nadu will be developed as iconic destinations along with on-site museums. Apart from setting up a maritime and tribal museum, four more museums will be renovated across the country.
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Closing Share Price as at |
7 February 2020 |
31 January 2020 |
% Change |
Australia Stock Exchange (ASX) |
Elanor Investors Group |
2.15 |
2.16 |
-0.5% |
Event Hospitality & Entertainment Ltd |
12.50 |
12.85 |
-2.7% |
General Property Group |
6.17 |
6.00 |
2.8% |
Mirvac Group |
3.38 |
3.40 |
-0.6% |
Bangkok Stock Exchange (THB) |
Central Plaza Hotel Public Co Ltd |
22.90 |
21.70 |
5.5% |
Dusit Thani Public Co Ltd |
9.20 |
9.25 |
-0.5% |
The Erawan Group Public Co Ltd |
4.82 |
4.28 |
12.6% |
Grande Asset Hotels & Property Public Co Ltd |
0.68 |
0.70 |
-2.9% |
Laguna Resorts & Hotel Public Co Ltd |
38.75 |
37.00 |
4.7% |
Minor International Public Co Ltd |
33.50 |
31.00 |
8.1% |
S Hotels and Resorts Public Co Ltd |
2.28 |
2.10 |
8.6% |
China Shanghai Stock Exchange (RMB) |
Jinling Hotel Corporation Ltd |
8.03 |
8.95 |
-10.3% |
China Shenzhen Stock Exchange (RMB) |
Huatian Hotel Group Co Ltd |
2.29 |
2.62 |
-12.6% |
Guangzhou Dong Fang Hotel Co Ltd |
6.30 |
7.20 |
-12.5% |
NASDAQ (US$) |
Huazhu Group Limited |
34.03 |
34.15 |
-0.4% |
Hong Kong Stock Exchange (HK$) |
Miramar Hotel & Investment Co Ltd |
14.54 |
14.46 |
0.6% |
Regal Hotels International Holdings Ltd |
3.92 |
3.88 |
1.0% |
Sino Hotels Holdings Ltd |
2.87 |
2.80 |
2.5% |
The Hong Kong & Shanghai Hotels Ltd |
8.29 |
7.83 |
5.9% |
Shangri-La Asia Limited |
7.47 |
7.19 |
3.9% |
National Stock Exchange (INR) |
Chalet Hotels Ltd |
333.80 |
328.65 |
1.6% |
IHCL (Taj Hotels, Resorts & Palaces) |
141.6 |
140.7 |
0.6% |
EIH (Oberoi Hotels & Resorts) |
136.4 |
142.1 |
-4.0% |
Hotel Leela Ventures |
5.9 |
5.9 |
0.0% |
Lemon Tree Hotels Ltd |
55.0 |
55.2 |
-0.4% |
Korea Exchange (KRW) |
The Shilla |
92000 |
87400 |
5.3% |
Singapore Stock Exchange (S$) |
Amara Holdings Ltd |
0.42 |
0.43 |
-1.2% |
ARA HTrust (US$) |
0.86 |
0.86 |
0.0% |
Ascendas Hospitality Trust |
1.12 |
1.12 |
0.0% |
Ascott Residence Trust |
1.33 |
1.33 |
0.0% |
Banyan Tree Holdings Limited |
0.39 |
0.41 |
-3.7% |
CDL Hospitality Trusts |
1.50 |
1.56 |
-3.8% |
Eagle HTrust (US$) |
0.52 |
0.50 |
3.0% |
Far East Hospitality Trust |
0.66 |
0.68 |
-3.0% |
Frasers Hospitality Trust |
0.70 |
0.70 |
0.7% |
Hotel Grand Central Ltd |
1.26 |
1.26 |
0.0% |
Hotel Properties Ltd |
3.36 |
3.67 |
-8.4% |
Mandarin Oriental International Ltd (US$) |
1.67 |
1.71 |
-2.3% |
Stamford Land Corporation Ltd |
0.50 |
0.50 |
0.0% |
Taiwan Stock Exchange (NT$) |
Formosa International Hotels Corporation |
150.0 |
153.0 |
-2.0% |
The Ambassador Hotel, Ltd |
25.7 |
25.7 |
0.0% |
Tokyo Stock Exchange (JPY) |
Japan Hotel REIT Investment Corp. |
73200 |
73100 |
0.1% |
Imperial Hotel, Ltd |
2004 |
1960 |
2.2% |
Red Planet Japan Inc |
113 |
112 |
0.9% |
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