hospitality and tourism

Singapore news

Changi Airport sees passenger traffic nearly returning to pre-Covid levels in June

The airport handled 5.12 million passenger movements in June, crossing the five million mark since January 2020.

Tourism

Kop Limited to acquire Charlton House Spa Hotel for GBP3.1 mil

The consideration will be funded by internal cash resources.
Far East Orchard's losses widen to $1.9 million in 1HFY21 as Covid-19 rages on - THE EDGE SINGAPORE

Results

Far East Orchard's losses widen to $1.9 million in 1HFY21 as Covid-19 rages on

The group’s net asset value edged down to $2.70, from $2.72 on Dec 30.
Banyan Tree posts losses in 2H20, but is "determined to build back better," says Ho Kwon Ping - THE EDGE SINGAPORE

Results

Banyan Tree posts losses in 2H20, but is "determined to build back better," says Ho Kwon Ping

“We have taken the opportunity to lay the foundations of a more agile, resilient and responsive organisation,” says Ho Kwon Ping.
Worst is over for tourism and aviation, says DBS, as Phase 3 vaccine trial results await - THE EDGE SINGAPORE

Broker's Calls

Worst is over for tourism and aviation, says DBS, as Phase 3 vaccine trial results await

Bargain hunters may take advantage of a resulting market upswing in anticipation of a steadier recovery from 2H2021.
DBS Research bets Covid-19 recovery hopes on Covid-19 vaccine in 2021 - THE EDGE SINGAPORE

Broker's Calls

DBS Research bets Covid-19 recovery hopes on Covid-19 vaccine in 2021

Ten of the candidates are now in Phase 3 trials, with the first results coming out as soon as October.

Tourism

STB and Klook team up in bid to revive Singapore's domestic tourism

The partnership between STB and Klook aims to encourage locals to explore and experience a different side of Singapore.
Covid-infection drags Banyan Tree's 1H20 losses deeper into the red  - THE EDGE SINGAPORE

Results

Covid-infection drags Banyan Tree's 1H20 losses deeper into the red

Banyan Tree has not declared a dividend for 1H2020 – similar to 1H2019.

Broker's Calls

DBS downgrades Genting to "hold" as brutal headwinds await for hospitality and tourism ahead

This comes after slashing EBITDA figures for the casino and hotel operator due to the brokerage's expectations of a longer J-shaped recovery, attributable to a larger drop in tourist arrivals, and a sharper contraction in the economy.

SE Asian economies

Asia's beaches go quiet as Chinese tourists stay home

(Sept 6): From quiet beaches in Bali to empty rooms in Hanoi’s hotels, pangs from China’s economic malaise and weakening yuan are being felt across Southeast Asia’s vacation belt.
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