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International buyers splurge on Phuket homes

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TTR WEEKLY
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PHUKET, 28 March 2024: Phuket has seen an unprecedented invasion of international buyers, transforming the island into the world’s largest leisure-branded residential real estate market. 

The supply of branded properties has now eclipsed a staggering USD 2.3 billion (THB80 billion) and is expected to grow further, according to new data from hospitality consulting group C9 Hotelworks. 

C9 Hotelworks Managing Director, Bill Barnett.

One of the most compelling storylines of Phuket’s economic shift from a tourism-dependent economy into a property giant is the blurring of lines between hospitality and real estate. A key example is Phuket’s largest developer, Laguna Phuket, which has undergone a massive change in focus from hotels to branded real estate. 

Earlier this year, Singaporean tourism icon KP Ho’s Banyan Group announced that an adjacent land bank to their Laguna Phuket integrated resort would be developed into a USD2 billion lifestyle-led branded real estate offering.

Ho’s longer-term strategy has changed from a hotel-led strategy with the Banyan Tree brand at the forefront to a multi-brand strategy that has witnessed the chain’s renaming and created a property-led growth trajectory. 

Tracking the change of investment sentiment from hospitality to mixed-use projects, C9 Hotelworks’ Managing Director Bill Barnett says: “Post-pandemic we have seen a flood of Thai-listed real estate groups return to Phuket, spurred by an accentuated return to trading of the resort market and stabilisation of tourism. Added motivation for developers is the soaring demand created by an influx of affluent overseas and domestic property buyers relocating to the island or viewing an investment in branded property as a safe haven.”

Some brands that have entered the market recently include The Standard in Bangtao. This area has been the epicentre of growth in the last year, including announcements by leading Bangkok developer Sansiri and Dubai-funded green-space real estate play Gardens of Eden, spread over 73 rai (29 acres) of ocean-facing land.

Turning the page, Phuket’s tourism market in 2023 was all about higher room rates, which, for most hotel owners, grew their bottom lines. Market-wide hotel performance data from STR shows that compared last year to the high-water years of 2018 and 2019, average room rates reflected higher occupancy by 20-30%. Despite lower occupancy with muted Chinese demand by 2-10%, hotels experienced a net profit growth. 

C9 Hotelworks Managing Director Bill Barnett adds: “This is not about the island changing, but how the larger world is undergoing unprecedented volatility coupled with the islands’ growing attraction as an international community. 

The appetite for branded residences reflects a notable change in buyer values, and we expect not only more hospitality affiliations but also a significant new addition of non-hotel brands, such as those from the fashion, automotive, and restaurant sectors. Phuket, with its record-setting resort-grade branded residences property supply, now stands side by side with urban best-in-class destinations Miami and Dubai as billion-dollar marketplaces.”

To download C9 Hotelworks Phuket Branded Residence Market Review CLICK

Airlines enjoy healthy traffic results

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TTR WEEKLY
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KUALA LUMPUR, 28 March 2024: Preliminary February 2024 traffic figures released Wednesday by the Association of Asia Pacific Airlines (AAPA) show strong growth in both international air passenger and air cargo demand. 

Passenger markets were boosted by a surge in leisure travel during the Lunar New Year festive period, while air cargo demand grew as a result of business and e-commerce activity.

In aggregate, 27 million international passengers were carried by Asia Pacific airlines in February, a 56.7% increase from the 17.3 million recorded in the same month last year. Traffic reached 89.2% of 2019 levels. In revenue passenger kilometre (RPK) terms, demand rose by 54.4% year-on-year, reflecting the relative strength of regional routes. Available seat capacity expanded by 53.1%, leading to a marginal 0.7 percentage point increase in the average international passenger load factor to 81.6% for the month.

With inflation levels moderating, rising demand spurred renewed vigour in the global manufacturing sector, supporting further growth in air cargo markets. As a result, international air cargo demand, as measured in freight tonne kilometres (FTK), increased by 10.2% year-on-year in February. Offered freight capacity expanded by a robust 20.8%, primarily from growth in belly-hold space. Consequently, the average international freight load factor fell by 5.5 percentage points to 57.3% for the month.

Commenting on the results,  AAPA director general Subhas Menon said: “During the first two months of the year, Asian carriers saw continued robust growth in international passenger markets, with 54 million passengers carried, an increase of 53% compared with the corresponding period in the previous year. The strong demand came on the back of ongoing network expansion by carriers, with load factors at levels seen before the pandemic.”

“The same period saw a 16% increase in international air cargo demand, progressing the recovery recorded since the last quarter of 2023. Healthy growth in e-commerce transactions fuelled a demand for speedier air transport. There were also indications of a modal shift from sea to air due to the Red Sea crisis.”

Looking ahead, Menon concluded: “The upturn in global economic activity and rise in business confidence levels augurs well for air cargo markets in the coming months. Correspondingly, the demand outlook for international travel is positive based on forward booking trends. The region’s carriers remain nimble and proactive in exploring new avenues of growth while tackling numerous challenges, including rising operational costs and stiff competition.”

Easter flights: Not a seat to spare

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TTR WEEKLY
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SINGAPORE, 28 March 2024: Qantas and Jetstar are gearing up for almost 4 million customers to travel across its domestic and international network on almost 36,000 flights throughout Easter and the proceeding four-week school holidays period.

More than 670,000 customers will fly over the Easter long weekend from 29 March to 1 April alone, almost a 10%  increase on the 2023 Easter holidays. Easter Thursday is the busiest day, with more than 150,000 customers travelling across the Qantas Group.

Photo credit: Qantas Group. Easter goodies for Qantas flyers.

Popular overseas destinations for holidaymakers include Auckland, Singapore, Bali, and Tokyo. In Australia, the top choices are the Gold Coast, Hobart, and Cairns.

Up to 15 Qantas and Jetstar aircraft on standby as ‘operational spares’ providing extra buffer in the event of disruptions.

Easter surprises

Between Friday, 29 March and Monday 1 April, customers travelling across the Qantas network can expect Easter surprises during their airport, onboard and lounge experience. Also, at these airports, customers should also be on the lookout for Easter themed photo booths.

Thailand and the Philippines to sign tourism MoU

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TTR WEEKLY
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MANILA, 28 March 2024: The Philippines and Thailand should sign the “two-country, one-destination” initiative as early as this June, according to a report by the Philippines News Agency that quoted a reliable diplomatic source.

The PNA report said the two governments would ramp up promotions to encourage two-way tourism and tourists from third countries to visit both Thailand and the Philippines when in Southeast Asia.

“A memorandum of understanding (MOU) on tourism cooperation between Thailand and the Philippines includes the two-country, one-destination concept. One of the priorities outlined in the proposed MoU calls for direct flights between secondary cities in the two countries. For example, a new route from Cebu to Phuket in Thailand could be developed. That could involve supporting airlines to develop routes that tourists visiting the region could book to visit beach resorts in both countries.

In 2023, Thailand welcomed 28 million international travellers, and around 10 million visited Phuket from Europe, Japan, Hong Kong, South Korea, and China.

When the two countries sign the MoU, the challenge is to convince airlines that there is enough traffic to justify new routes, such as the one linking Phuket and Cebu.

Thailand and the Philippines mark 75 years of diplomatic relations on 14 June, which could be the date the MoU will be officially signed. Aside from tourism, cooperation between Manila and Bangkok continues to grow in trade, culture, education, and agriculture, among others. 

(Source: PNA)

AirAsia resumes direct flights to Vientiane

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TTR WEEKLY
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KUALA LUMPUR, 28 March 2024: AirAsia Malaysia (AK) will resume flights on the Kuala Lumpur-Vientiane route starting 2 July 2024 with a twice-weekly service on Tuesday and Saturday.

This marks a significant milestone as AirAsia Malaysia becomes the only airline offering direct flights to all 10 ASEAN countries.  Vientiane is the last piece of the jigsaw without a direct flight from Kuala Lumpur since 2020.

AirAsia’s network covers a region home to about 800 million people, and its low-cost fares facilitate connectivity, fostering economic growth and cultural exchange as more people can fly than ever before. 

As the biggest low-cost airline in ASEAN regarding passenger volume, the airline plays a crucial role in the region’s economic development. Its significant spillover effects contribute to job creation, increase tourist spending, and benefit other sectors.

The resumption of twice-weekly flights to Vientiane, the capital city of Laos, will contribute to regional connectivity in line with the Lao government’s aim to attract 2.7 million foreign tourists in 2024. In 2019, AirAsia flew close to 50,000 guests between Kuala Lumpur and Vientiane, solidifying its position as the top airline for this route.

Group CEO of AirAsia Aviation Group, Bo Lingam commented: “ASEAN is where our brand and footprint is the strongest, and we are proud to be a truly ASEAN airline with the resumption of this route. Our commitment to ASEAN is steadfast, and we have built an ASEAN airline in five countries, connecting 130 destinations across the region and beyond.

“We have not only made travel accessible for millions in ASEAN but also contributed significantly to the economies of these nations. AirAsia remains dedicated to serving the people in the region, and the completion of our network with all 10 ASEAN countries is a significant step towards growing the region while making the world smaller.

“As an ASEAN airline, we will continue to champion its integration through the continued support of the ASEAN Open Skies Policy to increase regional and domestic connectivity and enhance ASEAN trade opportunities through the liberalisation of air travel under the single, unified air transport market.”

In celebration of this announcement, flights from Kuala Lumpur to Vientiane are available for booking from now until 7 April 2024 from only MYR99 all-in* one-way and from USD39 all-in* one-way from Vientiane to Kuala Lumpur for the travel period between 2 July 2024 and 30 November 2024. The promotional fares are available for booking on airasia.com and the AirAsia MOVE (formerly airasia Superapp).

Located on the banks of the  Mekong River, Vientiane, the capital of Laos, attracts travellers with its charm and rich culture. From its vibrant traditions to Buddhist influences and echoes of French colonialism, Vientiane offers a mix of history and modernity. 

The city has several must-see attractions, such as the Wat Si Saket, a historic temple known for its unique architecture, and the Pha That Luang. This gold-covered large Buddhist stupa is Laos’s most important national monument. Visitors can also explore the bustling Morning Market, where they can buy traditional handicrafts, exquisite silk fabrics, and fresh produce. Another notable landmark is the Patuxai Victory Monument, symbolising Laotian resilience and independence.

*The promotional all-in fares include airport taxes, MAVCOM fees, fuel surcharges and other applicable fees. Other terms and conditions apply. Subject to regulatory approvals. T&C apply.

Bhutan: Wonders of the Himalayas Tour

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TTR WEEKLY
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SINGAPORE, 27 March 2024: Pandaw introduces its latest addition to Land & River Tours – The Wonders of the Himalayas, a 16-night tour highlighting visits to Paro in Bhutan and Darjeeling, India.

This unique and breathtaking new tour takes intrepid travellers high into the Eastern Himalayan mountain range via land, river and rail through this lesser-visited natural and cultural hotspot.

Photo credit: Pandaw.

This 16-night grand tour of the Eastern Himalayan region combines a six-night discovery tour of Bhutan, Pandaw’s Brahmaputra river expedition, and a three-night post-cruise stay in Darjeeling. Available on multiple dates through mid-2025, this exciting new tour is now open for bookings for preferred staterooms onboard.

To book, visit pandaw.com or contact the Pandaw team at [email protected].

Wonders of the Himalayas
PARO TO BAGDOGRA
16 nights
FROM USD9,296  per person.

Explore the mystical Eastern Himalayas on this new cruise and land tour with Pandaw. Discover the Kingdom of Bhutan, including the famous cliff-top monasteries and a unique way of life that remains largely unchanged and uninfluenced by the modern world. 

From Bhutan, travel to North Eastern India and Assam for a seven-night river expedition along the Brahmaputra River, including a jeep safari at Kaziranga National Park. 

Trip highlight: Paro Bhutan 

Paro, a quaint town nestled amidst the Himalayas, is a paradise for nature lovers and spiritual seekers alike. Here are some of the top attractions and tours you will experience in Paro, Bhutan.

Taktsang Monastery (Tiger’s Nest): This iconic monastery clings precariously to a cliffside, offering stunning views of the Paro Valley. Hiking to the monastery is a must for any visitor to Paro.

Rinpung Dzong: This massive fortress-monastery is an architectural marvel and a great place to learn about Bhutanese history and culture.

Kyichu Lhakhang: One of the oldest temples in Bhutan, Kyichu Lhakhang is believed to have been built in the 7th century. The temple houses numerous religious artefacts and offers a glimpse into Bhutan’s rich Buddhist heritage.

Chele La Pass: If you’re looking for an adventure, hike or bike to the Chele La Pass, which offers breathtaking views of the surrounding mountains. Paro is a great place for hiking, with trails to suit all experience levels.

Weekend Market: Browse the Paro Weekend Market for souvenirs, such as handcrafted prayer wheels, bowls, and textiles made by local artisans.

Bhutan is known for its colourful festivals, and if you visit during the right time of year, you’ll likely be able to experience one.

Note: Medium fitness is required for a soft hike in Bhutan. The weather in Bhutan and Assam can be very cold during winter months. Check the average temperatures for your departure date and pack accordingly.

For more information visit.

Early birds catch ITB India discount

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TTR WEEKLY
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SINGAPORE, 27 March 2024: Early bird rates that lop off 15% from the 2024 booth rental fees for the upcoming ITB India are due to end on 14 May. 

ITB India 2024 will be held from 11 to 13 September 2024 at the Jio World Convention Centre in Mumbai, India. 

ITB India is a three-in-one B2B travel show co-located with MICE Show India and Travel Tech India, which delivers networking opportunities and business appointments with key players in the Indian travel market. 

Exhibitors will gain comprehensive pre-schedule meetings with buyers from India and neighbouring South Asian regions, offering opportunities to build bridges with South Asian travel buyers.

Buyers are pre-qualified serious travel procurement professionals from one, two and three-tier cities in Indian and South Asian outbound and domestic markets.

Invited travel buyers cover key segments of the travel industry, mainly  MICE, corporate, and leisure travel markets. ITB India estimates buyers have a collective purchasing power of more than USD1 million. About 70% of attending buyers are C-level profiles with decision-making responsibility.

Contact our exhibitor team at [email protected] or download our sales brochure to find out more.

Look out for these shows

Travel Meet Asia
3 – 4 July 2024
Indonesia Convention Exhibition (ICE), Jakarta, Indonesia
The premium tradeshow is for market-focused networking, engagements, and thought leadership. Travel Meet Asia provides you with opportunities to unlock key potentials in specific source markets or regions.

ITB Asia
23 – 25 October 2024
Marina Bay Sands, Singapore
The annual three-day B2B trade show and convention will feature exhibiting companies globally and cover MICE, Leisure, and Corporate Travel.

MICE Show Asia
23 – 25 October 2024
Marina Bay Sands, Singapore
An unmissable event for the meeting industry in APAC, MICE Show Asia is where the incentive travel, meetings and events industries come together to connect and build the future of MICE.

Travel Tech Asia
23 – 25 October 2024
Marina Bay Sands, Singapore
Travel Tech Asia is where the latest technologies, emerging trends, leading travel brands, and innovative startups are all in one place to create new possibilities in travel.

Minor Hotels names GM for Maldives resort

By
TTR WEEKLY
-

BANGKOK, 27 March 2024: Minor Hotels, a global hotel owner and operator, has appointed Marlon Abeyakoon as the general manager of NH Collection Maldives Havodda. 

The luxury all-villa resort marks the debut of the NH Collection brand in a non-urban destination, introducing its renowned European flair to the Maldives.

Marlon Abeyakoon GM at NH Collection Maldives Havodda.

A luxury hospitality and rebranding expert, Abeyakoon has a formidable track record, having worked for prestigious global brands such as Kerzner, Hilton and Marriott in diverse locations, including the UK, Sri Lanka, Maldives, Fiji and the UAE.

In early 2020, Abeyakoon joined Minor Hotels as general manager designate for Avani+ Fares Resort before moving to Minor’s Oaks Ibn Battuta Gate Hotel in Dubai in the same role. 

A UK national, Abeyakoon commented: “It is an honour to lead the team at the inaugural NH Collection property in the Maldives. The recently refurbished resort more than does justice to the beauty of the Gaafu Dhaalu Atoll. I look forward to collaborating with the team to deliver extraordinary experiences for our guests.”

Vietjet scales up Australian flights

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TTR WEEKLY
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HANOI, 27 March 2024: Vietjet Air will schedule direct flights from Hanoi, the capital of Vietnam, to Sydney and Melbourne in Australia in June.

Earlier this month, the airline confirmed that direct flights from Hanoi to Melbourne would be scheduled twice weekly on Monday and Friday, starting 3 June.

Photo credit: Vietjet Air. Sydney is the latest addition to the Vietjet’s network — start-up flights this June.

In its latest news update, the airline will add direct flights from Hanoi to Sydney twice weekly (Wednesday and Saturday) starting on 8 June. Both services will use the 377-seat A330-300 (12 business and 365 economy) for the 10-hour 35-minute flight.

Vietjet Air’s flights from Hanoi to Sydney will depart at 1710 (local time) and arrive in Sydney at 0600 the following day (local time). The flights from Sydney to Hanoi depart on Thursdays and Sundays at 0830 (local time) and arrive in Hanoi at 1600 on the same day (local time).

On the Hanoi-Melbourne route, the flight will depart Hanoi on Monday and Friday at 1710 and arrive in Melbourne at 0600 on the following morning. The return flight will depart Melbourne on Tuesday and Saturday at 0730 and arrive in Hanoi at 1400.

Vietjet will face stiff competition from the national carrier Vietnam Airlines on both routes. 
On the Hanoi to Melbourne route, Vietnam Airlines operates three direct flights weekly on Tuesday, Thursday and Sunday. Fares on the route average USD1,030 roundtrip in economy.
Vietnam Airlines also flies three weekly services on the Hanoi-Sydney route (Tuesday, Friday and Sunday). The average fare on the route is USD1,130.

Vietjet Air has expanded its services to Australia since last year, flying from Ho Chi Minh City to Adelaide, Perth, Brisbane, Sydney, and Melbourne.

Penang hosts regional electronics show

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TTR WEEKLY
-

GEORGE TOWN, Penang, 27 March 2024: The 4th Edition of Electronics Manufacturing Expo Asia (EMAX) and the third edition of Penang Manufacturing Expo (PMAX) 2024 will be hosted 24 to 26 July at the island’s Setia Spice Convention Centre, NRG Exhibitions reported on Tuesday.

Building on the success of previous editions, EMAX & PMAX 2024 will once again be held at the prestigious Setia SPICE Convention Centre in Penang, Malaysia. 

EMAX & PMAX 2024 will feature a comprehensive range of exhibitors, seminars, and networking opportunities, providing attendees with valuable insights into the latest technologies, trends, and best practices shaping the industry. From chip manufacturers and semiconductor suppliers to equipment providers and industry experts, participants can expect to connect with key players and explore innovative solutions driving the future of electronics and manufacturing.

With a focus on fostering collaboration and driving growth, EMAX & PMAX 2024 will attract participants from over 40 countries, showcasing 200+ leading brands and welcoming more than 8000 visitors. 

EMAX & PMAX is supported by:
Malaysia Convention & Exhibition Bureau (MyCEB);
Penang Convention & Exhibition Bureau (PCEB).

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