Singapore’s Integrated Resorts to Grow with SGD9 Billion Investment

Singapore’s two integrated resorts (IRs), Marina Bay Sands (MBS) and Resorts World Sentosa (RWS), are set to receive a SGD4.5billion expansion each, almost two-thirds their initial investment in 2006. In exchange, the exclusivity period for the IRs’ casino licenses will be extended to end-2030. While a completion date has not been announced, the investment plan for MBS consists of a 15,000-seat indoor entertainment area and a fourth tower featuring approximately 1,000 hotel rooms, a sky roof with a swimming pool, event spaces, and food and beverage outlets. Meanwhile, RWS will feature a new waterfront lifestyle complex, two new hotels with up to 1,100 rooms, as well as two new themed areas in Universal Studios, namely Minion Park and Super Nintendo World. The waterfront promenade will undergo a rejuvenation, and the S.E.A. aquarium will be expanded and rebranded into Singapore Oceanarium. The project is expected to be completed in 2025 with new attractions opening annually from 2020. Additionally, MBS and RWS have the option to deploy an additional 2,000 square metres and 500 square metres, respectively, to their gaming areas, subject to the payment of additional land costs. MBS is owned by US-based IRs operator, Las Vegas Sands Corporation; while RWS is owned by Singapore-based Genting Singapore Limited, a company of the Malaysia-based Genting Group.

Dusit Thani and Central Pattana to Jointly Develop Dusit Central Park

Thailand-based multinational hospitality company, Dusit Thani Public Company Limited (“Dusit Thani”), has announced that they will jointly develop a mixed-use project, Dusit Central Park, with Thailand-based retail property development and investment company, Central Pattana Public Company Limited (“Central Pattana”). Dusit Central Park sits on the intersection of Silom and Rama IV Road and covers approximately 440,000 square metres with an estimated development cost of THB36.7 billion. The development will be conducted over three phases. Phase one will feature the 39-storey, 250-key Dusit Thani Bangkok while phase two will include the 90,000-square-metres Central Park Offices and the 80,000-square-metres Central Park Shopping Complex. Both phases will be completed by 2023. The final phase will consist of the 159-unit Dusit Residence and 230-unit Dusit Parkside, both of which will be managed by Dusit International and will be available for long-term rent or leasehold. Dusit Central Park is slated for completion by 2024.

Scoot Debut in Laos

Singapore-based low-cost airline, Scoot Tigerair Pte Ltd (“Scoot”), has launched its inaugural flight to Laos, making Scoot the only airline offering direct Singapore-Laos flights from April 2019. The new routes will be operated three-times-weekly by Scoot’s A320 aircraft with capacity of up to 180 seats. The flights operate on a circular routing departing from Singapore to Luang Prabang, followed by Vientiane, before heading back to Singapore. Previously, this route was covered by sister airline SilkAir, also a subsidiary of Singapore Airlines. The new addition increases Scoot’s network to 67 destinations across 19 countries and territories.

China’s Star-Rated Hotels Report Average Occupancy Rate of 60.86% in Q3 2018

According to the statistics provided in China’s national hotel management system, a total of 9,230 star-rated hotels were reviewed by provincial tourism administrations in the third quarter of 2018. These includes 59 one-star hotels, 1,567 two-star hotels, 4,434 three-star hotels, 2,351 four-star hotels and 819 five-star hotels. All these qualified star-rated hotels generated a total revenue of RMB51.522 billion, indicating a generally flat year-on-year (y-o-y) increase. Food & beverage and room revenues contributed RMB19.636 billion and RMB24.87 billion, representing 38.11% and 48.27% of the total revenues, respectively. The average room rate (ARR) of all star-rated hotels was RMB341.76  per room night, up by 0.44% y-o-y; average occupancy rate (AOR) was 60.86%, up by 0.46% y-o-y; revenue per available room (RevPAR) was RMB208.00, up by 0.91% y-o-y; and average operating income per room was RMB36,358.80, up by 2.74% y-o-y.

Laos to Introduce Electronic Visa in June This Year

Laos’ Ministry of Foreign Affairs has announced the launch of electronic visa (E-visa) service in June, enabling all international visitors to apply for a single-entry visa online with a planned maximum stay of 30 days. Travellers who wish to visit Laos on multi-entry visas or stay longer than 30 days are still required to apply for an entry visa at a Lao embassy or consulate. Currently, travellers have to apply for a visa-on-arrival (VOA) at airport checkpoints and at major land border checkpoints. Fees vary according to the nationality with Canadians paying the highest fee at USD42, while other nationalities pay between USD30 and 35. Through the new E-visa scheme, the government aims to facilitate and attract more international visitors to Laos. This initiative is in line with its policy to prioritise in developing the tourism industry for economic growth, and to modernise and streamline public services. This announcement comes after the launch of a joint tourism campaign, Laos-China Year 2019, on 28 January 2019.

Absolute Share Price Performance, as on 5 April 2019