Thailand’s smart plans for expansion

October 20, 2017 by  
Filed under MICE, News, Thailand

BANGKOK, 29 October 2017: Thailand’s business travel sector should gain a  push from the government’s “Thailand 4.0” development strategy and elaborate plans to develop the Eastern Economic Corridor (EEC) including a major airport expansion.

The Eastern Economic Corridor plan, announced earlier this year, covers three provinces; Chachoengsao, Chonburi, Rayong, east and southeast, of Bangkok.

Public and private investment could reach THB1.5 trillion  (USD43 Billion) over five years. Read more

YOTEL yanks in investment dollars

September 27, 2017 by  
Filed under EUROPE, Hospitality, News

LONDON, 27 September 2017: YOTEL announced, Tuesday, that a fund affiliated with Starwood Capital Group, has committed to making a strategic investment of USD250 million in YOTEL, including acquiring a 30% stake in the company.

Funds will be used to invest in real estate acquisitions for new build, hotel conversions and adaptive reuse properties as YOTEL expands internationally.

Starwood’s investment will enable expansion in Europe, North America and Asia. Read more

Dubai unveils mega projects

September 14, 2017 by  
Filed under Middle east, News

DUBAI, 14 September 2017: Property developers in Dubai showcased new multi-billion-dollar mega-projects on Monday despite falling prices, in the hope of stimulating demand and helping to end a three-year market downturn.

Exhibitors at the three-day Cityscape Global showed off models of high-end skyscrapers and even “Floating Venice”, a resort complete with underwater suites.

The USD680 million Venice development 4 km (2.5 miles) off Dubai will have capacity of 3,000 visitors. Read more

Expedia locks in Traveloka

August 2, 2017 by  
Filed under Indonesia, News, Technology

JAKARTA, 2 August 2017: Expedia Inc has invested USD350 million Traveloka Holding Limited, a leading Southeast Asian online travel company.

The deal was concluded over the weekend with Expedia describing it as a “primary minority investment” in Traveloka to deepen cooperation on global hotel supply.

Over the course of Traveloka’s last two funding rounds, East Ventures, Hillhouse Capital Group, and Sequoia Capital also contributed funding, bringing the total investment amount to approximately USD500 million within the last year. Read more

Robust sales in Bangkok’s hotel market

July 27, 2017 by  
Filed under Hospitality, News, Thailand

BANGKOK, 27 July 2017: Direct investment in Thailand’s hotel sector reached THB10.7 billion in the first half of 2017, according to JLL Hotels & Hospitality Group.

This figure is attributed to four major transactions, comprising of five hotels in Bangkok and Pattaya.

“As a comparison, 2016’s full-year investment volume was only THB 9.6 billion,” said JLL Hotels and Hospitality Group head of investment sales Asia, Mike Batchelor. “The robust investment activity recorded in the first half reflects investors’ continued appetite for hospitality assets in Thailand and confidence in the long-term outlook of the country’s tourism industry.” Read more

Vietnam island gets airport

July 11, 2017 by  
Filed under Aviation, News, Vietnam

QUANG NINH, 11 July 2017: Van Don International Airport in the northern province of Quang Ninh, Vietnam is scheduled to open by late March 2018.

Vietnam Net Bridges reported property developer, Sun Group, has invested USD330 million to build the airport, located on Van Don Island about 50 km from Halong Bay.

It is designed to serve 2 million passengers a year by 2020 and will be expanded to serve 5 million passengers annually by 2030 if travel demand increases. Read more

Oudomxay calls for tourism investment

February 9, 2017 by  
Filed under Laos PDR, News

OUDOMXAY, 9 February 2017: Oudomxay Tourism Office says about 100 tourist sites in the province await development in order to attract more tourists.

Vientiane Times quoted the provincial tourism officer, Van Mingboupha, saying the province is encouraging the private sector to take the lead in developing tourism.

“So far about eight businesses have submitted proposals to the provincial Informational, Culture and Tourism Department with suggestions on how to improve of visitor attractions.” Read more

Vietnam raises tourism stakes

January 24, 2017 by  
Filed under News, Vietnam

HO CHI MINH CITY, 24 January 2017: Vietnam’s tourism sector is expected to earn an annual revenue of USD35 billion by 2020.

Vietnam tourism officials said they are concentrating on quality and the need to raise daily tourist spend rather than counting heads.

Vietnam had the fastest growth rate in tourism across ASEAN and while total arrivals just exceeded the 10 million mark it is now the main rival to Thailand as far as annual growth rates in tourism. Read more

Sri Lanka shines at AHTIC event

December 1, 2016 by  
Filed under Events, News, South Asia

COLOMBO, 1 December 2016: The first Asia Hotel & Tourism Investment Conference (AHTIC) concluded at the weekend having attracted  Asia’s leading hotel investors from 19 countries.

They discussed investment potential in Sri Lanka and other destinations around the Indian Ocean from Mauritius and the Seychelles to Malaysia and Vietnam.

Data from ForwardKeys demonstrated that Sri Lanka has achieved a 12% growth in visitor arrivals by air during the past year, more than double the growth rate of that achieved by the Asia Pacific region as a whole. Read more

India needs to tap tourism potential

November 18, 2016 by  
Filed under News, South Asia

NEW DELHI, 18 November 2016: India’s government must put tourism at the heart of its economic agenda and deliver on its manifesto promise of 2014, according to Tourism & Travel Council president and CEO David Scowsill.

Speaking at the recent Hotel Investment Forum India in Mumbai, Scowsill highlighted that India’s Travel & Tourism sector has extraordinary potential and is forecast to grow by 7.5% per annum over the next decade.

But growth remains largely untapped due to a lack of a co-ordinated approach to tourism policies. Read more

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