Ascott’s Global Portfolio Increases to More Than 100,000 Units

Singapore-based serviced residence owner and operator, The Ascott (“Ascott”), has secured contracts for another 26 properties with 4,600 units across 11 countries. This will increase Ascott’s portfolio to over 100,000 units globally, and represents Ascott’s second consecutive year of expansion. Half of the new properties will be established in China between 2019 and 2023, while one is slated to open in Singapore this year. In 2017, Ascott’s portfolio grew twice as fast over 2016, with the addition of more than 30,000 units across 189 properties. Ascott has mainly achieved this growth through its strategic moves over the past few years including the investments in Quest Apartment Hotels (Australasia market), a partnership with Tauzia Hotel Management (Indonesia market), a joint venture with Huazhu Hotels Group and CJIA Apartments group (China market), and a franchised property in Amsterdam, Netherlands. Ascott's global footprint now extends to 172 cities across 33 countries.  The company seeks to expand its presence in India, Indonesia, the Philippines, Thailand and the UK among other countries, and has a target of 160,000 units worldwide by 2023.

Angsana Debuts in Xishuangbanna City of China

Singapore-based Banyan Tree Hotels & Resorts (“Banyan Tree”) has recently announced the opening of Angsana Xishuangbanna, the first Angsana resort in Xishuangbanna, Yunnan Province and also its fifth in China. Located in Menghai County, the ‘Hometown of Pu’er Tea’, the resort features 407 guestrooms, suites and villas with a terrace. Food and beverage outlets include an all-day dining restaurant, a Chinese restaurant, a specialty restaurant, a lobby bar and a pool bar. The resort also features a pillar-less ballroom of 600 square metres, which can be divided into three individual rooms, as well as two multi-function rooms covering an area of 98 square metres, which can be combined and divided according to guests’ need. In addition, other facilities include an Angsana SPA, a Gallery, a gym, indoor and outdoor swimming pools, a kid’s club, KTV and mahjong rooms. Banyan Tree manages more than 40 resorts and hotels, 60 spas, 70 retail galleries and three championship golf courses across 28 countries.

Malaysia Extended Temporary Visa Exemption for Chinese and Indians Tourists

Malaysia has announced the Malaysian Government’s approval of an extension for the temporary 15-day visa exemption for China and India tourists to the end of 2019. The exemption was previously planned to cease on 31 December 2018. The ease of visa restrictions is expected to help facilitate tourist arrivals by staying competitive with neighbouring countries including Indonesia and Thailand. Currently, Chinese nationals travelling to Malaysia pay US$40 for a single-entry e-visa and an additional US$40 as service fee while Indian nationals pay US$21.50 for a single-entry e-visa, US$45 for a tourist visa and US$35 for standard processing service fee.  In an effort to boost awareness of Malaysia and to showcase the Malaysian Chinese culture and heritage, Malaysia has also launched other tourism initiatives including the organising of Malaysia-China Spring Festival Carnival in Kuala Lumpur on 16 February 2019.

American Airlines and China Southern Airlines Begin Expanded Partnership

US-based airline American Airlines, Inc (“American Airlines”) and China-based airline China Southern Airlines Co Ltd (“China Southern”) are growing their partnership to codeshare on additional routes beyond key destinations in China and the United States, starting on 15 February 2019. The partnership will also include nine trans-Pacific routes between China and the US. Upon completion of the partnership expansion, the two airlines will codeshare on flights to 20 destinations in China beyond Beijing and Shanghai, and 21 destinations in the US including Los Angeles, San Francisco and New York. The two airlines will also codeshare all their long-haul flights between China and the US. This partnership expansion will further enhance loyalty offering to customers of both airlines, with reciprocal lounge access and reciprocal loyalty program benefits. American Airlines and China Southern began their relationship in March 2017 and started codeshare service in January 2018.

Royal Brunei to Relaunch Brisbane Service

Brunei-based Royal Brunei Airlines (“RB”) will restart its route between Brunei and Brisbane from 11 June 2019. Serviced by Airbus A320NEO with 12 Business and 138 Economy seats, the seven-hour non-stop route will operate four times per week, bringing an additional 62,400 seats each year. Following the launch of daily London-Brunei flights in October 2018, the reinstated route will be part of RB’s one-stop service between London and Brisbane, offering an additional Australian travel destination for UK travellers. Brisbane was the second Australian city that RB flew to via Darwin in 1994. The direct route first opened in 1997 but was suspended in 2011. The reconnection of Brunei and Brisbane is expected to strengthen trade, investment, tourism, and cultural ties among the three countries. Founded in 1974, RB operates a network covering 16 destinations across Southeast and East Asia, the Middle East, Europe, and Australia.
 

Absolute Share Price Performance, as on 25 January 2019