Singapore and China will be launching a “fast lane” to facilitate essential business and official travel between both countries from 8 June 2020. The “fast lane” will be first established between Singapore and six Chinese provinces and municipalities, namely Shanghai, Tianjin, Chongqing, Guangdong, Jiangsu, and Zhejiang. This will gradually be expanded to include other Chinese provinces and municipalities. Both countries have agreed to explore the increase of air links for the “fast lane”. The decision is part of Singapore’s plan as it enters phase one of its post-circuit breaker initiatives, and moves cautiously to reopen its borders by exploring “fast lane” arrangements with a few other countries, allowing for quarantine-free, cross-border travel to reboot the economy. According to Singapore’s Ministry of Foreign Affairs and Ministry of Trade and Industry, the travel is subjected to authorities’ approval and travellers must submit their health declaration to the local authorities before arrival at the host country. Travellers must take a Covid-19 swab test 48 hours before departure, and another upon arrival at their destination. In addition, travellers must follow the instructions on travel and quarantine requirements.
|
|
Philippines President Rodrigo Duterte has announced that Metro Manila and three surrounding regions will be placed under general community quarantine (“GCQ”), where strict stay-at-home orders are lifted, except for the young and the elderly. The rest of the country will be placed under modified general community quarantine (“MGCQ”), a transition phase to loosen regulations. In MGCQ areas, citizens are free to travel but must comply with any local government ruling. Transport Secretary Arthur Tugade has revealed that domestic flights will be allowed between areas where the rules are being eased. However, according to Philippines’ Department of Tourism, only essential travel between GCQ and MGCQ areas is allowed. Tourist destinations may also re-open during the MGCQ, subjected to government approval. However, only accredited tourism establishments with Certificate of Authority to Operate can open. With restrictions eased, the national flag carrier, Philippine Airlines (“PAL”), is planning to resume some flights. The PAL will operate limited international services on routes to the US, Canada, Guam, Vietnam, Mainland China, Malaysia, Indonesia, Vietnam, Hong Kong, Taipei, Singapore, Japan, the UAE, Qatar, and Saudi Arabia. Whereas, for domestic routes, PAL will operate limited flights to and from Manila’s Ninoy Aquino International Airport and occasionally from other hub airports.
|
|
Transit flights at Hong Kong International Airport (“HKIA”) will be allowed to resume as of 1 June 2020 after being suspended since 25 March. The reopening of the airport will only serve transit flights and will not involve any passenger entering the city. All transit passengers are required to wear masks and would have to go through temperature screening at the airport. Anyone with a fever or conformed to the government’s reporting criteria, such as recent travel history to places associated with high risk, will be sent to the hospital. The announcement came after the city recorded at least 20 days without locally transmitted cases. Additionally, the city has begun to ease its social distancing measures and allowing certain entertainments venues to reopen from 29 May.
|
|
BBS consortium, which comprises of Thailand-based Sino-Thai Engineering and Construction, national flag carrier, Bangkok Airways, and BTS Group Holdings, has won the bidding for the THB290 billion (USD9.1 billion) Eastern Airport City Project at U-Tapao in the Eastern Special Development Zone. It is one of the mega projects under the government’s infrastructure development plan for the Eastern Economic Corridor (“EEC”), running between Bangkok and Pattaya. The state is expected to gain a return of THB305 billion (USD9.6 billion) from the land lease and revenue sharing agreement under a 50-year contract. After the contract ends, the state will take ownership of all the project’s properties. The plan is expected to be completed by 2023, and Narita International Airport Corporation will be the operator of the airport. The project covers 6,500 rai (1,040 hectares) and includes the third passenger terminal at U-Tapao airport, a commercial gateway, and a ground transport centre, MRO centre, a cargo complex, and an aviation training centre.
|
|
Hotels and restaurants in Sri Lanka reopened this week after a two-month lockdown and island-wide curfew due to COVID-19. The round-the-clock curfew implemented since mid-March was lifted this week and will now be in force only between 22.00 to 04.00 daily. Most businesses and commercial establishments have resumed operations, while ensuring social distancing and health and safety norms. Some hotels have begun accepting room reservations, while others have only opened on-site restaurants and bars to outside guests. Hotels can also conduct public events like weddings, however, will be restricted to 100 attendees per event. A presidential task force on COVID-19 has recommended reopening Sri Lanka’s main international airport from 1 August 2020. Currently, the airport remains open for service repatriation and cargo flights.
|
|
Closing Share Price as at |
5 June 2020 |
29 May 2020 |
% Change |
Australia Stock Exchange (ASX) |
Elanor Investors Group |
1.27 |
1.26 |
0.8% |
Event Hospitality & Entertainment Ltd |
9.35 |
9.10 |
2.7% |
General Property Group |
4.16 |
3.99 |
4.3% |
Mirvac Group |
2.48 |
2.35 |
5.5% |
Bangkok Stock Exchange (THB) |
Central Plaza Hotel Public Co Ltd |
24.50 |
24.30 |
0.8% |
Dusit Thani Public Co Ltd |
7.20 |
6.95 |
3.6% |
The Erawan Group Public Co Ltd |
3.90 |
3.48 |
12.1% |
Grande Asset Hotels & Property Public Co Ltd |
0.63 |
0.67 |
-6.0% |
Laguna Resorts & Hotel Public Co Ltd |
35.50 |
36.50 |
-2.7% |
Minor International Public Co Ltd |
21.00 |
19.20 |
9.4% |
S Hotels and Resorts Public Company Limited |
2.38 |
2.26 |
5.3% |
China Shanghai Stock Exchange (RMB) |
Jinling Hotel Corporation Ltd |
7.93 |
7.44 |
6.6% |
China Shenzhen Stock Exchange (RMB) |
Huatian Hotel Group Co.,Ltd. |
3.70 |
3.12 |
18.6% |
Guangzhou Dong Fang Hotel Co Ltd |
6.32 |
6.19 |
2.1% |
NASDAQ (US$) |
Huazhu Group Limited |
38.60 |
33.08 |
16.7% |
Hong Kong Stock Exchange (HK$) |
Miramar Hotel & Investment Co Ltd |
13.84 |
13.90 |
-0.4% |
Regal Hotels International Holdings Ltd |
3.03 |
3.03 |
0.0% |
Sino Hotels Holdings Ltd |
2.39 |
2.38 |
0.4% |
The Hong Kong & Shanghai Hotels Ltd |
7.09 |
6.69 |
6.0% |
Shangri-La Asia Limited |
6.87 |
6.82 |
0.7% |
National Stock Exchange (INR) |
Chalet Hotels Ltd |
160.55 |
108.35 |
48.2% |
IHCL (Taj Hotels, Resorts & Palaces) |
83.7 |
73.7 |
13.6% |
EIH (Oberoi Hotels & Resorts) |
72.5 |
64.7 |
12.1% |
Hotel Leela Ventures |
5.3 |
3.7 |
45.2% |
Lemon Tree Hotels Ltd |
21.8 |
18.3 |
19.2% |
Korea Exchange (KRW) |
The Shilla |
83200 |
79200 |
5.1% |
Singapore Stock Exchange (S$) |
Amara Holdings Ltd |
0.40 |
0.36 |
11.1% |
ARA Htrust (US$) |
0.42 |
0.38 |
9.2% |
Ascott Residence Trust |
1.05 |
0.90 |
17.3% |
Banyan Tree Holdings Limited |
0.25 |
0.24 |
2.1% |
CDL Hospitality Trusts |
1.10 |
0.92 |
19.6% |
Eagle Htrust |
0.14 |
0.14 |
0.0% |
Far East Hospitality Trust |
0.53 |
0.48 |
10.5% |
Frasers Hospitality Trust |
0.49 |
0.45 |
8.9% |
Hotel Grand Central Ltd |
0.98 |
0.95 |
3.2% |
Hotel Properties Ltd |
3.15 |
2.97 |
6.1% |
Mandarin Oriental International Ltd (US$) |
1.44 |
1.36 |
5.9% |
Stamford Land Corporation Ltd |
0.35 |
0.36 |
-4.2% |
Taiwan Stock Exchange (NT$) |
Formosa International Hotels Corporation |
156.0 |
147.5 |
5.8% |
The Ambassador Hotel, Ltd |
29.0 |
27.7 |
4.7% |
Tokyo Stock Exchange (JPY) |
Japan Hotel REIT Investment Corp. |
50700 |
44850 |
13.0% |
Imperial Hotel, Ltd |
1870 |
1892 |
-1.2% |
Red Planet Japan Inc |
77 |
68 |
13.2% |
|
|
For the latest in the hospitality industry, please visit: http://www.hvs.com/. You are also welcome to contact the following personnel. |
|
|
|
|
Superior Results through Unrivaled Hospitality Intelligence. Everywhere.
|
|
|
Stay current. Click here to receive free HVS newsletters
Looking for insights into the hospitality industry?
Discover unique hospitality intelligence at hvs.com/publications
Interested in a particular market?
Find hundreds of market overviews, all written by HVS experts, at hvs.com/marketresearch
Like to be in the know on hotel trends and predictions?
See our Hotel Valuation Index for dozens of cities at hvi.hvs.com
|
|
|
|
|