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SHR advances core strategies in 2026,

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BANGKOK, 11 March 2026: S Hotels and Resorts Public Company Limited, a publicly listed hotel and resort investment and management company (SET: SHR), reports a record-high normalised net profit of over THB615 million for 2025 and unveils its 2026 business direction. 

The company aims to enhance the quality of its hotel portfolio through strategic investments in high-potential assets, while advancing new hotel developments, brand repositioning, and elevated guest experiences in line with global travel trends. 

Photo credit: SHR. S Hotels and Resorts PCL (SHR) Chief Executive Officer Michael David Marshall.

SHR targets portfolio RevPAR growth of 20 to 25%, an EBITDA margin advancing towards 30%, and a reduction in its average cost of debt by more than 0.50%, while strengthening its net profit base for sustained long-term growth.

S Hotels and Resorts PCL Chief Executive Officer Michael David Marshall reported that in 2025, the company achieved RevPAR growth across all regions, driven by higher average daily rates and continued success in attracting high-spending guests. 

Combined with improved operational efficiency and a significant reduction in finance costs, normalised net profit reached a record high of THB615 million. This performance reflects the strength of the company’s geographically diversified portfolio and its ability to manage revenue effectively amid varying tourism dynamics across markets. The company also declared a dividend of THB0.07 per share for 2025, representing the highest dividend payment since listing and equivalent to a dividend yield of approximately 4%, based on the average market price of the company’s shares in 2025, above the industry average.

In 2026, the company will build upon this momentum through its ‘Scaling to New Heights, Unlocking Greater Value’ plan, accelerating growth and unlocking long-term value creation through three core strategies.

The first strategy, Asset Rotation, focuses on proactive portfolio management, emphasising asset quality over quantity to create sustainable long-term value. 

During Q1 2026, the company completed the divestment of 15 hotels in the UK located outside primary markets and largely reliant on domestic demand. Proceeds from the transaction will be used to repay high-interest bank loans and optimise capital allocation toward higher-yield assets.

In parallel, SHR has allocated an investment budget of approximately THB3,000 to THB3,500 million to expand in Thailand by selectively investing in upper-upscale hotels and adopting cluster management to enhance operational efficiency and support long-term growth.

The second strategy, Asset Enhancement, aims to transform the portfolio into a premium lifestyle-driven hotel portfolio. In collaboration with The Ascott Limited, a leading global hospitality operator, the Company is rebranding and upgrading four hotels in the United Kingdom under lifestyle-oriented brands, including The Unlimited Collection and lyf, alongside room upgrades and enhanced facilities to strengthen competitiveness and long-term asset value. Hotels under the Unlimited Collection brand are now fully operational. At the same time, two lyf properties are expected to be completed and launched in mid 2026, supporting an ADR increase of approximately 20 to 30% compared with 2024.

In addition, SHR plans to upgrade room products at two SAii Hotels and Resorts properties. SAii Phi Phi Island Village will renovate all 12 hillside pool villas. At the same time, SAii Maldives Lagoon Maldives, Curio Collection by Hilton will add private pools to 20 existing overwater villas and develop 18 new overwater villas to meet demand from upper-tier guests, enhance pricing power, and support long-term ADR growth.

The third strategy, Experience-Led Brand Growth, highlights SAii Hotels and Resorts as an upper-upscale lifestyle brand. The company will further develop its brand pillars and signature experiences, spanning wellness, sustainability, and mindful culinary offerings, to strengthen differentiation and long-term brand equity. Together with Ascott-affiliated brands including The Unlimited Collection and lyf, SHR will elevate guest experiences through thoughtful design, local cultural integration, and curated activities aligned with global experiential travel trends. 

Driven by these strategies, SHR targets portfolio RevPAR growth of 20 to 25% from 2025 levels and expects to improve its EBITDA margin towards 30% through disciplined cost management and operational excellence, while reducing its average cost of debt by more than 0.50%.

“SHR is entering a new phase of growth with strong strategies and a clear direction. The company is committed to enhancing portfolio quality, investing in high-potential assets, and accelerating profitability to achieve a sustainably higher level of performance,” Marshall concluded.

About S Hotels and Resorts PCL
S Hotels and Resorts Public Company Limited (SHR) is a subsidiary of Singha Estate Public Company Limited. The company engages in international hotel investment and management. Its portfolio spans five countries — Thailand, the Maldives, Fiji, Mauritius, and the UK.

(Source: SHR)

Cambodia Airways to fly Phnom Penh-Yangon route

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PHNOM PENH, 11 March 2026: Cambodia Airways will launch a new service between Phnom Penh and Yangon, starting 20 March 2026, marking a notable expansion for the carrier as it inaugurates direct flights to Yangon, Myanmar.

Initially, the airline schedules a twice-weekly service on Mondays and Fridays, using an A319 for the one-hour and 35-minute flight.

Cambodia Airways quotes a USD145 fare for one way on 20 March, the inaugural flight date. A round-trip fare costs USD265. (Google Flights)

Competition will be tough on the route between Cambodia and Myanmar, which is served exclusively by Myanmar Airways International (MAI). The airline quotes fares between USD130 and USD180 for one-way travel from Phnom Penh to Yangon. 

Cambodia Airways will offer just two flights weekly on Monday and Friday, so  MAI has the advantage with five flights weekly — Tuesday, Wednesday, Friday, Saturday and Sunday. The only downside is the mix of aircraft types MAI uses on the route, depending on the day of the week — ATR72 with 68 seats. Embraer 190 with 98 seats and an A319 with 134 seats

Flights operate from the recently opened Techo International Airport (KTI) in Phnom Penh, Cambodia.

Flight schedule

KR791 will depart Phnom Penh (KTI) at 1515 and arrive in Yangon (RGN) at 1650. (Monday and Friday).
KR792 will depart Yangon (RGN) at 1750 and arrive in Phnom Penh (KTI) at 2025. 

(Source: TTRW)

AirAsia connects Kota Bharu and Jakarta

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SEPANG, 10 March 2026: AirAsia Malaysia (AK) announced Tuesday the expansion of its Indonesia network with the launch of its 20th route to the country, connecting Malaysia’s northeastern peninsula city of Kota Bharu to Jakarta, the Indonesian capital.

Starting 16 June 2026, the airline will operate four weekly direct flights between Kota Bharu and Jakarta, strengthening connectivity between the northern coast of Peninsula Malaysia and Indonesia’s capital. 

Photo credit: AirAsia. Promotional fare pegged at MYR199 one-way.

AirAsia will be the first airline to operate this international route between Kota Bharu and Indonesia in the second half of the year and is expected to boost international arrivals further and support Kelantan’s growing tourism and medical travel ambitions.

This new expansion supports the state’s goal of attracting 12 million domestic and international tourists this year, building on last year’s strong performance of approximately 11 million visitor arrivals, nearly 90% of whom were domestic tourists. It also aligns with the national target of welcoming 4.6 million Indonesian visitors as part of the Visit Malaysia Year 2026 (VM2026) campaign, while the Indonesian government targets 16 to 17.6 million foreign tourist arrivals this year.

AirAsia Malaysia General Manager Dato Captain Fareh Mazputra said: “We are thrilled to introduce this new connectivity, and the timing is ideal to further stimulate our northern coastal destination with more international travellers. As Kelantan expands into the medical tourism space, especially targeting Indonesia and neighbouring countries, stronger air links are essential. Backed by private specialist hospitals that deliver quality care at competitive prices, the state is poised to attract more cross-border medical travel. 

“AirAsia continues to lead in connectivity between Malaysia and Indonesia, operating over 370 weekly flights. In 2025 alone, the airline carried nearly three million guests between the two countries. The new Kota Bharu–Jakarta route is expected to boost tourism further while strengthening economic and healthcare ties between Malaysia and Indonesia.”

Kota Bharu and Jakarta are culturally connected through their shared Malay-Muslim heritage, rich traditions and strategic geographic locations. While Kota Bharu charms with its artisanal crafts, culinary treasures, and relaxed coastal vibe, Jakarta stands as Indonesia’s bustling capital and economic hub. This unique combination creates seamless opportunities for cultural exchange, tourism collaboration, trade, linking the two cities through direct flights and growing economic partnerships, fostering stronger regional connectivity between Malaysia and Indonesia.

To celebrate the launch, AirAsia is offering special promotional fares for flights from Kota Bharu to Jakarta, starting from just MYR199* all-inclusive. Flights from Jakarta to Kota Bharu are also available from IDR709,000* one-way. The special fares are available for booking until 22 March for travel between 16 June 2026 and 27 March 2027, exclusively on the AirAsia MOVE app and airasia.com.

Flight Schedule between Kota Bharu (KBR) and Jakarta (CGK)

*All-in fares are quoted for one-way travel only, including passenger service charges, regulatory service charges, fuel surcharges, and other applicable fees. Terms and conditions apply.

(Source: AirAsia)

MTCO executive director stays for two more years

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BANGKOK, 10 March 2026: The Board of Directors of the Mekong Tourism Coordinating Office (MTCO) has reappointed Suvimol Thanasarakij (Dee) as Executive Director for a new two-year term beginning in mid-March 2026.

It follows an open recruitment process, with shortlisted candidates interviewed by the MTCO Board in February 2026.

Suvimol Thanasarakij (Dee) MTCO Executive Director

“I am grateful for the MTCO Board’s trust and honoured to continue working with the GMS tourism community and our partners to promote the Mekong region as a sustainable destination,” said Suvimol. “Regional cooperation remains essential to strengthening tourism development, supporting local communities, and enhancing the region’s competitiveness in the global tourism market.”

During her previous two terms (2022–2026), Thanasarakij led a range of regional initiatives to support tourism businesses and cooperation among GMS countries. These included the Women in Community-Based Tourism (CBT) Training-of-Trainers programme, which built a regional network of trainers who later delivered follow-up training for local women in their home countries. MTCO also partnered with Agoda to deliver a regional e-commerce training programme for MSME accommodation providers, helping tourism businesses in secondary destinations strengthen their online presence and access global travel markets.

Under her leadership, MTCO facilitated the development of the GMS Tourism Strategy 2030, the region’s five-year tourism cooperation framework. The organisation is currently coordinating the GMS Tourism Marketing Action Plan, a roadmap for joint destination promotion across the Mekong region. Progress has also been made toward establishing the Greater Mekong Subregion Tourism Organisation (GMSTO), an intergovernmental body being established by the GMS member countries.

In her new term, Thanasarakij will continue working with the GMS national tourism organisations and regional partners to implement the GMS Tourism Strategy 2030, strengthen regional tourism partnerships, and promote sustainable tourism development across the Mekong region.

About MTCO
Established in 2006, the Mekong Tourism Coordinating Office (MTCO) is a tourism collaboration framework for the six governments of the Greater Mekong Subregion (GMS): Cambodia, China (Yunnan Province and Guangxi Zhuang Autonomous Region), Lao PDR, Myanmar, Thailand, and Vietnam. 

(Source: MTCO)

Minor opens second hotel in Laos

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BANGKOK, 10 March 2026: Minor Hotels confirms Avani+ Lanexang Vientiane, a premium lifestyle hotel, is set to open during Q2 2026 in Vientiane, the Lao PDR capital. 

The property will become Minor Hotels’ second hotel in Laos, joining Avani+ Luang Prabang in the UNESCO World Heritage town of Luang Prabang. 

Photo credit: Minor Hotels. Avani+ Lanexang Vientiane.

Located on Fa Ngum Road and approximately a 15-minute commute from Wattay International Airport, Avani+ Lanexang Vientiane will feature 197 rooms across a range of categories, from deluxe rooms to suites and a spacious presidential suite. 

The hotel will feature four dining and social venues, including Mekong Mosaic, an all-day dining restaurant. Sabaidee Social will bring an easygoing, bar-led atmosphere to the ground floor, with direct street access, welcoming both in-house guests and locals. 

The Pantry will provide a relaxed café and deli concept for coffee, casual bites, and informal meetings. For a more elevated occasion, Salongxay will offer fine dining, supported by two private dining rooms for small-group celebrations. 

Other facilities include AvaniSpa with three single treatment rooms and two couples treatment rooms, and an outdoor swimming pool. Lanexang Hall’s ballroom will accommodate up to 320 guests and can be divided into two function rooms. 

(Source: Minor Hotels)

Visit Maldives repatriates stranded visitors

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SINGAPORE, 10 March 2026: Visit Maldives Corporation (VMC), in close coordination with national ministries and industry stakeholders, has successfully organised eight repatriation flights, including services to Germany and France, to ensure travellers could return home safely.

The repatriation flights are part of a response strategy to address the ongoing disruptions affecting the global aviation network. 

Photo credit: Visit Maldives. The Maldives rescues stranded tourists following airspace closure in the Middle East.

Recognising the operational difficulties and anxiety caused by recent flight cancellations, Visit Maldives is prioritising traveller safety and destination resilience through a series of proactive measures designed to support both international guests and local industry partners.

Measures include providing direct, on-ground assistance and establishing a specialised Help Desk at Velana International Airport (VIA) in collaboration with the Maldives Airports Company Limited (MACL) and the Ministry of Tourism & Environment. 

The help desk serves as a critical resource for visitors, offering guidance and assistance during this period of Uncertainty.

In addition to immediate relief efforts, Visit Maldives is actively engaging with several airlines to explore the possibility of additional flights and enhanced connectivity options in the coming weeks.

To mitigate the impact on arrival numbers, the corporation is calling for a unified industry front to launch joint marketing campaigns.

These initiatives will specifically target markets such as India, China, Russia, and other Asian regions where travel disruptions have been comparatively less severe, ensuring that demand for the destination remains sustainable.

Looking at long-term recovery, Visit Maldives is developing a coordinated Crisis Response Strategy for the destination. The corporation intends to convene an industry-wide discussion shortly to share insights, align recovery tactics, and identify practical measures to support the sector.

By fostering communications and incorporating feedback from all stakeholders, Visit Maldives said it “remains committed to navigating these global challenges through the unity and resilience that have long defined the Maldivian tourism industry.”

(Source: Visit Maldives)

Air Canada adds flights to India

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Newsdesk
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SINGAPORE, 10 March 2026: Air Canada has introduced double daily flights on the Toronto (YYZ) – Delhi (DEL) route, up from a single daily service.

The airline describes it as a short-term response to the war in the Middle East, which has disrupted regional air connectivity.

Photo credit: Air Canada.

Toronto to Delhi Capacity Boost

Double Daily Service: From 7 to 21 March  2026, Air Canada is operating two flights daily.

Flight Schedule

AC48 (existing service) departs Vancouver (YYZ) at 1955 and arrives Delhi (DEL) at 2010 plus a day.
AC42 (New) departs Vancouver YYZ at 2130 and arrives in DEL at 2200 plus a day.

The airline deploys Boeing 777-200LR for both flights, specifically designed for ultra-long-haul services (roughly 16 to 17 hours). The aircraft

Air Canada operates six Boeing 777-200LR (Long Range) aircraft with a 300-seat layout.

Air Canada Signature Class (Business): 40 seats
Premium Economy: 24 seats
Economy Class: 236 seats

Mumbai and London Adjustments

For the Toronto–London–Mumbai route, the airline is utilising larger aircraft on select flights during this same March window to provide more seating and routing options.

In its statement, the airline cites the “ongoing Middle East situation” as the driver for these changes, aiming to accommodate passengers displaced by other airline cancellations and airspace closures in the region.

Summer schedule 2026

While the Delhi doubling is temporary, Air Canada is also embarking on international expansion. On the Vancouver-to-Bangkok route, the airline shifts from a seasonal to a year-round schedule, effective 1 April. The airline is also targeting a 15% increase in international capacity and re-establishing various Asian links, including the return of non-stop Toronto–Shanghai flights starting in June.

(Source: Air Canada)

StarCruises promotes new five-night cruises

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Newsdesk
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HONG KONG, 10 March 2026: StarCruises introduces three new five- night cruises from Hong Kong aboard Star Voyager, sailing to Okinawa, Japan, Vietnam and Sanya. 

The three sailings feature two “Okinawa Adventure” cruises — to Miyakojima and Naha departing 22 March 2026, and to Ishigaki & Naha departing 3 May 2026.

Photo credit: StarCruises.

The “Enchanting Vietnam & Sanya Cruise” departs on 26 April 2026 to Halong Bay, Da Nang and Sanya. 

“We are delighted to introduce these special five-night cruises from Hong Kong as part of our continued commitment to offering more exciting and diverse vacation options for our

guests,” said StarDream Cruises President Michael Goh. “With the addition of Okinawa, Vietnam and Sanya, travellers can look forward to discovering stunning destinations while enjoying the onboard experiences aboard Star Voyager.”

(Source: StarCruises)

Turkish wraps up 2025 with a profit

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Newsdesk
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SINGAPORE, 10 March 2026: Turkish Airlines achieved a USD2.2 billion profit from its core operations in 2025, while revenues for the full year exceeded USD24.1 billion, the airline group reported last week.

In the fourth quarter of 2025, revenues increased by 12% year over year, reaching USD6.3 billion. The fourth quarter profit from core operations increased by 23% compared to the same quarter in the previous year, reaching USD534 million.

Photo credit: Turkish Airlines.

In 2025, the EBITDAR (Earnings Before Interest, Tax, Depreciation, Amortisation, and Rent) margin exceeded the mid-point of the long-term target, reaching 23.7 %. Consolidated assets amounted to USD46.6 billion.

Despite an exceptionally challenging and unpredictable operating environment created by geopolitical tensions, the airline reports strong performance in January and February, supporting expectations that the 2026 EBITDAR margin should reach between 22% and 24%.

Maintaining its position as the network carrier operating the most flights in Europe, Turkish Airlines sustained steady growth throughout 2025 despite geopolitical tensions and economic uncertainties stemming from trade wars, as well as aircraft delivery and engine supply issues in the aviation industry. Despite production bottlenecks, the airline group has expanded its fleet by 5% year over year to 516 aircraft by the end of 2025.

In 2025, revenue increased by 6.3% year over year to USD 24.1 billion, supported by strong contributions from passenger operations.  

Passenger revenues increased by 7.4%, driven by favourable demand in international and premium segments. The decline in cargo unit yields stemming from the slowdown in global trade volumes and the adverse effects of tariffs was offset by a 16.6% increase in cargo volume, resulting in USD 3.4 billion in cargo revenue.  

(Source: Turkish Airlines)

Malaysia’s pilgrimage flights resume

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KUALA LUMPUR, 10 March 2026: ‘AMAL by Malaysia Airlines’ resumed normal operations to Jeddah (JED) and Madinah (MED) as of 8 March 2026, following a suspension of services due to regional airspace closures. 

‘AMAL by Malaysia Airlines’ is a specialised brand and subsidiary under the Malaysia Aviation Group (MAG) dedicated exclusively to providing pilgrimage travel services for Hajj and Umrah.

Photo credit: Malaysia Airlines

Last week’s military escalation in the Gulf had a significant operational impact on AMAL by Malaysia Airlines, leading to a total suspension of its pilgrimage services, followed by a phased resumption. Roughly 243 Malaysian Umrah pilgrims were reported stranded in Saudi Arabia during the peak of the closures as the airline waited for safe air corridors to reopen. As regional authorities established “safe corridors,” AMAL began a cautious, limited resumption to support stranded travellers.

To bypass the snarled Gulf hubs, Malaysia Airlines deployed extra A350-900 flights to London and Paris to move passengers who would normally transit through the Middle East.

Codeshare Impact: Services to Doha (typically used for connections to the broader Middle East and Europe via Qatar Airways) remained grounded even as pilgrimage flights began to restart.

Meanwhile, the airline confirms that its flights to Doha (DOH) will remain suspended until 13 March 2026, as it continues to assess the security situation. 

The airline advises passengers to update their contact information via ‘My Booking’ for timely updates. Assistance is also available via Live Chat on the website, or by contacting the Malaysia Airlines Global Contact Centre at 1 300 88 3000 (Malaysia) or +603 7843 3000 (outside of Malaysia).  

Malaysia Airlines introduced additional flights between Kuala Lumpur and London Heathrow Airport (LHR) and Kuala Lumpur and Paris Charles de Gaulle Airport (CDG) over the weekend from 6 to 8 March 2026 to support travellers affected by ongoing disruptions across global travel networks. 

Malaysia Airlines operates its regular daily services alongside supplementary flights, using its A350-900 aircraft to destinations in Europe. It is also working closely with its partner airlines across Europe and Asia to facilitate onward connections for passengers affected by airspace disruptions in the Gulf states.

Malaysia Aviation Group, Chief Executive Officer of the Airline Business, Bryan Foong, said: “Malaysia Airlines is stepping up by adding capacity where it matters, working closely with our partners and ensuring people can continue moving safely and reliably between Asia and Europe.”

(Source: Malaysia Airlines with additional reporting)

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