Hotels & Tourism
Genting Singapore sinks into red with $116.68m loss in H1
Genting Singapore sinks into red with $116.68m loss in H1
The group said it suffered almost zero revenue in Q2 due to COVID-19 disruptions.
Singapore hailed as top choice for post-pandemic travel
More than half of locals believe that the Lion City is well-prepared to reopen tourism activities.
CDL Hospitality Trust's NPI dropped 56% to $29.72m in H1
Most of its hotels were either temporarily closed or were operating at low occupancies.
Ascott Residence Trust sells two serviced residences for $191.4m
Proceeds may be deployed for other higher-yielding assets.
Tourism receipts plunged 39% to $4b in Q1
This was attributed to the decline across all components.
Marina Bay Sands ends lawsuit with $9.1m payment
It was sued last year to recover funds that was allegedly said was sent to other patrons in 2015.
Ascott Residence Trust projects 80-90% revenue plunge
It expects its revenue per available unit (RevPAU) to remain under pressure.
City Developments expects notable losses in H1
Measures to control the pandemic have adversely impacted the group’s hotel operations.
‘Hybrid' events arise as MICE industry adapts in a post-pandemic era
The sector’s recovery will likely be slow as the ‘new normal’ entices major changes.
Far East Hospitality opens hotel in Tokyo
It has an opening promotion of 15% discount with a complimentary late check-out.
EHT commences forensic accounting probe on sponsor
Master lessors issue two notices of default to relevant master lessees.
Ascott declares 100% free bonus for rewards programme members
Healthcare staff will get up to 40% off at Ascott’s participating properties worldwide.
Singapore, China opens fast lane for essential business and official travel
The Lion City will be connected to six Chinese provinces and municipalities.
Chart of the Day: Passenger movements drop 71% YoY in March
This is due to border closures and the circuit breaker period.
Chart of the Day: Far East Hospitality Trust's master leases led by fixed rents
Slow demand poses a risk to hotels receiving mainly fixed rents.
Hotel RevPAR drops 62% YoY in Q1
The impact of the pandemic was most felt by hotels within the upscale segment.
Eagle Hospitality Trust posted net loss of $12.67m in Q1
The rental receivables from its master lessees in Q1 were fully impaired.
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