Friday, May 2, 2025
Home Blog Page 314

CTM FY23: Revenue from Asia up 198%

By
TTR WEEKLY
-

SYDNEY, 24 August 2023: Corporate Travel Management, a global business travel management group, has announced FY23 results indicating strong trading momentum after reporting AUD2.95 billion of annualised new client wins in the second half of FY23.

Revenue for the three months to June 2023 equated to more than 90% of the total for FY19 – the last financial year before Covid-19 CTM reported to the Australian Stock Exchange (ASX) on Tuesday.

Its FY23 results showed revenue increasing 70% to AUD660.1 million (FY22: AUD388.7 million), exceeding the company’s earlier guidance of AUD648.0 million, and underlying EBITDA of AUD167.1 million, representing growth of 179% (FY22: AUD59.8 million).

Asia

AUD millions unless stated otherwise

Revenue from Asia rose 198% to AUD51.6 million, and underlying EBITDA increased to AUD13.9 million (FY22 AUD(3.0) million), reflecting an impressive turnaround since the China market re-opened early in the second half of the financial year.

CTM’s Asia market share has doubled compared to FY19 levels, and the business has delivered record profits since March 2023 on a 70% recovery in revenue. As a result, CTM forecasts the region will surpass its FY19 EBITDA record of AUD25 million in FY24 through market recovery and continued client wins.

CTM managing director Jamie Pherous said: “We are taking strong momentum into FY24 with EBITDA averaging AUD20 million per month and PBTa averaging AUD16.5 million per month since February 2023… We are successfully converting the revenue recovery into net profit”.

Trading update and outlook
CTM entered FY24 with strong revenue and earnings growth momentum and continues to see encouraging signs for FY24.
Whilst July and August is a seasonally quiet for corporate travel, activity is tracking significantly above July 2022, with transactions +42% and revenue +34%.

The Group’s annual Global Customer Survey, conducted in May 2023, indicates a growing appetite for corporate travel in the year ahead. The findings show that survey respondents expect to travel the same or more in the year ahead for client meetings (94%), internal meetings (91%), international travel (85%) and same-day business trips (84%) in the year ahead. This points to continued recovery in client travel.

CTM has forecast revenue of AUD770 million to AUD850 million, EBITDA of AUD240 million to AUD280 million and PBTa of AUD193 million to AUD233 million for FY24.

Definitions
EBITDA – earnings before interest, taxes, depreciation and amortisation.
PBTa – profit before tax and client amortisation (non-cash amount).
NPAT – net profit after tax.
Underlying – Excludes one-off acquisition, integration costs, other non-recurring items, and client amortisation, a non-cash expense.

CENTEL garners IAA awards

By
TTR WEEKLY
-

BANGKOK, 24 August 2023 Central Plaza Hotel Public Company Limited (CENTEL) received three prestigious accolades in the Travel & Hospitality category at the IAA Awards for Listed Companies 2022-2023 held by the Investment Analysts Association, further solidifying the group’s 40-year legacy and position as a leader in the industry.

This remarkable milestone included the following awards: ‘Outstanding CEO’ for Thirayuth Chirathivat, Chief Executive Officer of Centara Hotels & Resorts; ‘Outstanding CFO’ for Gun Srisompong, Chief Financial Officer and Vice President – Finance and Administration; and ‘Best Investor Relations’ for Central Plaza Hotel Public Company Limited (CENTEL)

“These illustrious achievements recognise CENTEL’s unwavering commitment to exceptional leadership, financial prowess, and transparent investor relations, as well as our group’s visionary approach to business,” said Centara Hotels & Resorts CEO Thirayuth Chirathivat. “We are also focused on expanding our footprint across Thailand, ASEAN, China, the Middle East and beyond to make Centara one of the world’s top 100 hotel operators by 2027.”

“We continue to stay at the forefront of hospitality with evolving experiences to meet the needs of our ever-growing traveller base, as well as following a detailed roadmap to achieving a sustainable future, which includes eliminating single-use plastic and earning Global Sustainable Tourism Council (GSTC) certification for all our properties by 2025; achieving a 20% reduction in energy, waste, water, and greenhouse gas emissions by 2029; and reaching net zero emissions by 2050 through innovative energy efficiency, increased renewable energy, and green supply chains.”

Despite recent political and economic issues that have arisen both domestically and abroad, Centara Hotels & Resorts remains optimistic for the future. 

“It is truly an honour to be recognised at the IAA Awards this year as we celebrate Centara’s 40th anniversary”, said  Centara Hotels & Resorts CFO and vice president – finance and administration Gun Srisompong.

“As we continue to see a rise in guests at our stunning properties around the world, we are beyond grateful to our stakeholders for their continued trust and support as we look ahead to a bright and successful future.”

For more information on Centara Hotels & Resorts, visit www.centarahotelsresorts.com. 

(Source: Centara Hotels & Resorts)

Sabah recruits communities to save turtles

By
TTR WEEKLY
-

SANDAKAN, Sabah, 24 August 2023: Nestled on Libaran Island, the Walai Penyu Conservation Park continues progressing in turtle protection and community empowerment.

Assistant Tourism, Culture, and Environment Minister Datuk Joniston Bangkuai recently visited the island to witness firsthand the impactful synergy between the conservation park and the local community.

Joniston Bangkuai is listening to Alexander Yee as he briefs him on the involvement of Libaran islanders in conservation initiatives.

Presents were Walai Penyu Conservation Park founder and managing director Alexander Yee and Ministry and Sabah Tourism Board officers.

Joniston, who is also chairman of the Sabah Tourism Board, highlighted the crucial role of protecting endangered turtle species that frequent Libaran shores and preserving such delicate ecosystems for future generations. He also highlighted the immense potential of Libaran Island and its community as a distinctive tourism product.

“I am genuinely impressed by the community’s raw craftsmanship in producing handicrafts using ‘mengkuang’ (screw pine leaves) and recycled materials, as well as boat making. The island community stands as educators, imparting the significance of turtle preservation and marine conservation due to their profound connection with the land and sea,” he added.

Joniston’s visit reflects the Sabah Tourism Board’s ongoing commitment to promoting and supporting activities that benefit the environment and local communities. He emphasised that by investing in community-driven conservation efforts, Sabah can set an inspiring example for responsible tourism and ecological preservation.

Meanwhile, Walai Penyu Conservation Park founder and managing director Alexander Yee shared his visionary plans to integrate the local community into the conservation landscape.

He intends to gradually entrust the reins of the Walai Penyu Conservation programme to the community, empowering them to champion and sustain turtle conservation initiatives independently.

“We believe in empowering the community to become the stewards of their environment. It is a step towards ensuring the long-term success of both marine turtle conservation and the well-being of the local people,” he said.

Since its establishment in 2010, the Walai Penyu Conservation Park has played a pivotal role in safeguarding endangered turtle species’ nesting and hatching sites.

Moreover, their unwavering commitment has fostered a cleaner island environment and instilled a sense of responsibility among the islanders, prompting them to ensure surroundings are free from debris.

For more information on Sabah, visit www.sabahtourism.com. 

(Source: Sabah Tourism Board)

Saudia hands out Green Points

By
TTR WEEKLY
-

SINGAPORE, 24 August 2023: Saudi Arabian Airlines is investing in an environmentally friendly initiative “Green Points” programme to reduce emissions and electric vertical take-off and landing aircraft.

Saudia claims to be the first airline in the world to implement a points programme that rewards passengers for helping to protect the environment. 

Green Points

Passengers can reduce food wastage and landfill contributions by pre-selecting their meals during online check-in – which will also reduce the weight of stock on board and save fuel. 

The Green Points programme also encourages guests to travel with less luggage by offering a generous allotment of points. This approach makes a significant contribution towards fuel efficiency. But there is more, starting with electric vertical take-off and landing jets.

eVTOL Jets

Saudia has signed a memorandum of understanding (MoU) with Lilium, a German-based aerospace company, to buy 100 electric vertical take-off and landing aircraft. With zero operating emissions, the Lilium Jets will enable sustainable and time-saving travel allowing the national flag carrier to play its part in the country’s sustainable air mobility development strategy. With this purchase, the airline intends to launch a state-of-the-art service with new electric point-to-point connections and seamless feeder connections to the Saudia hubs for business-class guests.

Skyteam’s Sustainable Flight Challenge 

Through Skyteam’s Sustainable Flight Challenge 2023 (TSFC) Participation, Saudia commits to sharing its sustainable innovations and insights, which help reduce its environmental impact while alternative fuel sources are being researched. The airline won the ‘best customer engagement’ and ‘best employee engagement’ awards in last year’s edition. It was also a finalist in three other categories: ‘greatest CO2 reduction medium-haul, ‘lowest CO2 emissions ground-handling and ‘best sustainable innovation (in-flight)’.

A321neo aircraft

Saudia is expanding its fleet with the new A321neo aircraft, with 20 new aircraft joining the fleet by 2026. The main reason behind the purchase of the aircraft is its ability to run on much less fuel. The A320 family of aircraft have saved 20 million tons of Co2 since the A320neo came into service globally in 2016.

Saudia CEO, Captain Ibrahim Koshy commented: “We are continually striving to reduce our environmental impact by buying fuel-efficient aircraft such as Boeing 787 Dreamliners, Electrical Vertical Take-off and Landing jets with Lilium, as well as the order of CFM International LEAP-1A engines to power our new fleet of Airbus A321neo.”

(Source: Saudia Arabian Airlines)

RHB Bank signs on as MATTA Fair sponsor

By
TTR WEEKLY
-

KUALA LUMPUR, 24 August 2023: The Malaysian Association of Tour & Travel Agents (MATTA) inks a significant partnership with RHB Banking Group as the exclusive Platinum Sponsor for the highly anticipated MATTA Fair, which will 1 to 3 September 2023, at the Malaysia International Trade & Exhibition Centre (MITEC).

During the MATTA Fair, RHB Bank will offer attractive card promotions, travel-related deals and discounts and sign-up offers at Level 3 (Main booth) and Level 1 to those who apply for an RHB Multi-Currency Visa Debit Card/-i or RHB Visa Credit Card/-i during Malaysia’s largest travel fair.

from left to right: Marcus Ng Ching Yee, Head, GCB Strategy CoE, Sien Vee Loc, Head, Consumer Finance, Group Community Banking, Jeffrey Ng Eow Oo, Managing Director of Group Community Banking, RHB Banking Group. Sheikh Awadh Abdullah, Deputy President of MATTA Suzaizi Mohd Morshid, Head, Group Sales, Islamic Treasury, Group Treasury & Global Markets.

“We are thrilled to welcome RHB Banking Group as our Exclusive Platinum Sponsor. This collaboration is a testament to the shared commitment to innovation, customer satisfaction and industry growth. Together, we aim to elevate the travel and tourism experience for industry players and travellers,” said MATTA president Nigel Wong.

“The MATTA Fair is a well-loved, highly-anticipated travel and tour exhibition that never fails to draw Malaysians from all ages and walks of life to explore its halls for holiday deals. RHB aims to support the recovery of the local hospitality and tourism industry to pre-Covid-19 levels by linking with travel partners and merchants participating in the MATTA Fair to help improve sales and maximise revenue. As part of our Exclusive Platinum partnership, we have lined up a host of exciting promotions for MATTA Fair’s visitors.

Our enticing offerings reflect our commitment to ensuring that every journey is complemented by unparalleled value and convenience,” said RHB Banking Group managing director of group community banking Jeffrey Ng Eow Oo.

“RHB Multi-Currency Visa Debit/-i cardholders and RHB Visa Credit/-i cardholders can enjoy great discounts of up to 60% on flight tickets and hotel stay when they purchase travel packages with our travel merchant partner at the MATTA Fair.”

The participation from RHB Bank as the exclusive Platinum Sponsor further aligns with MATTA’s position as a driving force in Malaysia’s tourism industry landscape. The support and expertise of RHB Bank will undoubtedly contribute to the success of upcoming initiatives and events, reinforcing MATTA’s role as a catalyst for positive change and progress within the industry.

It is free admission to the fair open from 1000 to 2100 Friday to Sunday, 1 to 3 September. MATTA provides a complimentary shuttle service to MITEC from KL Sentral and Sunway Putra Mall. Visitors are encouraged to make full use of this service.

ABOUT MATTA
MATTA is the leading and largest national travel association in Malaysia, with close to 3000 members, comprising local tour and travel agents and overseas affiliations. With a full-time secretariat in Kuala Lumpur, its headquarters, MATTA has state chapters in Kuala Lumpur, Selangor, Melaka, Negeri Sembilan, Pahang, Terengganu, Kelantan, Johor, Penang, Perak, Kedah/Perlis, Sabah and Sarawak.

(Source: MATTA. See website www.matta.org.my)

Skyscanner takes Hindi language on board

By
TTR WEEKLY
-

DELHI, India, 24 August 2023: Global travel marketplace Skyscanner launched a new Hindi language experience across its products and services Wednesday as part of the company’s commitment to India’s travel market.

Hindi is the third most widely spoken language globally, and the number of internet users accessing content in Hindi is also rising. With the Indian travel market projected to reach USD125 billion by FY27 and Indians increasingly preferring to book travel online, introducing a new localised experience will benefit travellers and partners alike in metro cities as well as second and third-tier cities across the country.

India’s domestic and international air travel continues to showcase a strong recovery, surpassing pre-covid levels. This reflects travel demand on Skyscanner, with the company observing the highest spike in search volume in 2023 since the pre-pandemic of 2019 for both domestic and international destinations. 

Trending routes in August 

Srinagar to Jammu
Hyderabad to Bengaluru
Mumbai to Dubai
New Delhi to Seoul
Srinagar to New Delhi 

Commenting on the launch, Skyscanner vice president of strategic relations Hugh Aitken said: “The Indian travel market is one of the fastest growing in the world, and we see immense potential to help connect millions of travellers with some of the most ambitious travel providers in the industry. 

“When accessing flight options on Skyscanner, travellers will automatically be redirected to the Hindi locale on the airline or OTA site. As well as native language support, we are investing across our entire product portfolio for consumers and our partners in distribution, advertising, and data areas.”

Skyscanner currently works with market-leading Indian partners such as MakeMyTrip, Indigo, Goibibo, SpiceJet, Yatra, EaseMyTrip, and Cleartrip and is constantly looking to expand its network.

Qantas cranks up seat capacity

By
TTR WEEKLY
-

SINGAPORE, 24 August 2023: Qantas announced another increase to its international capacity on Monday ahead of additional aircraft returning to its fleet.

Destinations with more capacity include New York, Los Angeles, Johannesburg and Bali.

BALI BENEFITS

Qantas will use larger aircraft to support the strong demand for travel between Bali and Australia.

From late October, larger Airbus A330 aircraft will replace daily Boeing 737 flights with more premium seats and fully-flat beds in business class on flights from Bali to Sydney. Qantas’ A330 aircraft also offer a next-generation economy seat and the latest inflight entertainment technology. Qantas flies from Denpasar (Bali) and Jakarta to both Sydney and Melbourne.

The Qantas Group is currently at around 80% of its pre-Covid international capacity levels, almost doubling in the past year. This is expected to reach 100% by March 2024, with this additional flying taking it beyond that level from July 2024 onwards.

Qantas took delivery of three Boeing 787s in recent months and is gradually able to return more of its Airbus A380s to service as they complete post-storage maintenance, enabling flying levels to steadily increase to meet strong travel demand.

NEW FLYING

The national carrier is adding more than 250,000 seats* to and from Australia.

Sydney-Bali – larger Airbus A330 aircraft will replace daily Boeing 737 flights from October this year with more premium seats and fully-flat beds in Business Class.

Sydney-Auckland-New York – following the successful launch of the new route in June this year, flights will increase from four per week to daily from August 2024.

Sydney-Johannesburg – for the first time, Qantas A380s will operate to South Africa from July 2024, doubling capacity during peak periods.

Melbourne-Los Angeles – capacity will increase by around 20 per cent with more A380 flights from July 2024.

Sydney-Los Angeles – flights will increase from eight to nine per week from July 2024, operated with a mix of 787 and A380 aircraft.

PRESSURE ON FARES

Qantas International CEO Cam Wallace said the additional flying would help support the sustained demand for international travel and boost the tourism industry.

“Hundreds of thousands of extra seats on our network is great news for our customers planning their next overseas trip,” said Wallace.

“We know our customers are looking for great value, and this additional capacity will put more downward pressure on fares.

“The additional capacity will largely be made possible through our final two A380s returning to the Qantas fleet following heavy maintenance and cabin improvements.”

UPCOMING NETWORK CHANGES

This week’s announcement follows an earlier notice that confirmed 1 million seats would be added to the airline’s network over the next year with new routes, larger aircraft and more flights to popular destinations.

Routes starting soon:
Sydney-Shanghai resuming in late October, operating for the first time in more than three years. 
Brisbane-Honiara and Brisbane-Wellington launching in late October.

Ethiopian boosts Seoul flights

By
TTR WEEKLY
-

SINGAPORE, 24 August 2023: Ethiopian Airlines will increase flights to Seoul, Korea, from Addis Ababa, Ethiopia, to six weekly, effective 28 October 2023. 

Ethiopian will also deploy the latest Airbus A350-900 aircraft on the route replacing the Boeing 787 Dreamliner that currently flies the Addis Ababa (ADD) – Seoul (ICN) route. 

Photo credit: Ethiopian

The increase from five to six weekly flights follows discussions between the aeronautical authorities of Korea and Ethiopia. The additional flight is evidence of the growing multi-faceted partnership between Korea and the whole continent of Africa.

Ethiopian Airlines Group CEO Mesfin Tasew said: “Ethiopian is the only African carrier connecting Seoul to the (African) continent and beyond, and the additional frequencies will be significant in fostering economic, cultural, and social interactions providing more diverse and convenient connectivity options to travellers. 

“As a pan-African carrier, it gives us pleasure to give additional flight options between Addis Ababa, the diplomatic capital of Africa, and Seoul, the rising hub of East Asia. 

Currently, the airline flies five weekly services on Tuesday, Thursday, Friday, Saturday and Sunday. Flight ET672 departs Addis Ababa for Incheon Seoul at 2335 and arrives in Seoul on the following day at 1600. Flight time is 11 hours and 25 minutes — the one-way airfare costs around USD1,000.

Ethiopian Airlines has just marked its 10th anniversary of flying to Seoul. It was the airline’s 73rd destination at the time. The airline’s network has since almost doubled, serving over 130 destinations across five continents.

MINT pays shareholders a dividend

By
TTR WEEKLY
-

BANGKOK, 23 August 2023: Minor International PCL’s board of directors approved an interim cash dividend payment of THB0.25 per share to its shareholders based on a strong and profitable operating performance delivered by its global hotel and restaurant portfolio during the first half of 2023.

This dividend payment underscores the company’s robust cash flows from operations, improved balance sheet strength, and unwavering confidence in its positive outlook for growth, cash flows and profitability for its stakeholders.

Photo credit: MINT. https://www.minor.com/en/investor-relations/at-a-glance

In a summary statement to the Stock Exchange of Thailand, the group reported a core profit of THB3,005 million during Q2/2023 more than doubling year-on-year, turning positive from core loss in the previous quarter and surpassing pre-pandemic level in 2019.

The rebound to positive territory continued for the entire first half of 2023, recording a core profit of THB2,358 million compared to a core loss of THB2,371 million in the first half of 2022.

“We are thrilled to announce this cash dividend payment, which is a testament to our strong performance and financial stability,” said MINT Group CEO Dillip Rajakarier.  “The achievement of our recent record-breaking quarterly profit of THB3 billion, together with continued momentum expected for the rest of the year, provided us with the confidence to not only reward our shareholders but also provide room for further expansion throughout this year and into 2024.”

The dividend will be paid out on 15 September  2023.

About Minor International 

Minor International (MINT) is a global company focused on three core businesses: hospitality, restaurants and lifestyle brands distribution. 

MINT is a hotel owner, operator and investor with a portfolio of over 530 hotels under the Anantara, Avani, Oaks, Tivoli, NH Collection, NH, nhow, Elewana, Marriott, Four Seasons, St. Regis and Radisson

Blu brands in 55 countries across the Asia Pacific, the Middle East, Africa, the Indian Ocean, Europe, South and North America.

Pandaw selects blog competition winners

By
TTR WEEKLY
-

SINGAPORE, 23 August 2023: Pandaw announced the winners of its first blog competition held earlier in the year.

A river cruise specialist in the Mekong River region and India, Pandaw asked for blogs that “evoked strong memories of sailing through the waterways of Asia and the spirit of Pandaw.”

Photo credit: Pandaw. Latest Pandaw brochure, see the link below.

Three winners were selected with their blogs featured on Pandaw’s website and will be highlighted in the company’s future email campaigns. The winners of the 2023 Pandaw Blog Competition are:

1st Prize
Theodore and Alice Tanoue’s blog on the sandbanks of Burma
USD1,000 USD Pandaw Travel Voucher
View blog

2nd Prize
Jim Wingrove’s tale of an early morning on the misty Upper Mekong
USD500 Pandaw Travel Voucher
View blog

3rd Prize
Jenny Dawson’s encounters with the local children of Northern Vietnam
USD250 Pandaw Travel Voucher
View blog

Download the Pandaw brochure

To book visit a cruise, visit pandaw.com, or contact [email protected].

(Source: Pandaw)

1...313314315...600Page 314 of 600

Stay ahead with the
latest travel news
on Southeast Asia.

Subscribe now


Contact Us
TTR Weekly (TTRW) is published in Bangkok, Thailand, registered since 1978.
/ month
placeholder text
/ month
placeholder text
Press releases, announcements, events for calendar should be sent to: [email protected]
/ month
placeholder text

Copyright © 2023 TTR Weekly, all rights reserved.