tourism

Banyan Tree's 1Q earnings decline fourfold on lower revenue, absence of one-off gains
SINGAPORE (May 16): Banyan Tree Holdings reported a 74% decline in 1Q19 earnings to $5.2 million from $20.2 million on the back of lower revenue, as well as the absence of one-off gains from the dilution of the group’s interest in its China entities. Revenue fell 17% to $81.2 million from $98.2 million in 1Q18, mainly attributable to lower contributions from the Hotel Investments ...
Straco's 1Q earnings more than double to $8.5 mil on revenue recovery from Singapore Flyer
SINGAPORE (May 14): Straco Corporation, the developer and operator of tourism-related attractions including the Singapore Flyer, has posted earnings of $8.5 million for the 1Q ended March, more than doubling from its 1Q18 earnings of $3.5 million due to higher revenue. Revenue for the quarter grew 30.8% on-year to $24.6 million from $18.8 million a year ago with comparably higher revenue ...
Singapore casinos $9 bil expansion sparks price concern
(Apr 4): Genting Singapore and Las Vegas Sands Corp’s pledges to put $9 billion into tourist attractions in Singapore to keep their exclusive casino operating licenses was met with little enthusiasm by analysts and investors. At least six analysts downgraded Genting in the wake of the news, citing the hefty price tag for the license extension and the government’s plan to raise gambling ...
Straco Corp posts 0.4% lower 4Q earnings of $6 mil; announces special & final dividend
SINGAPORE (Feb 28): Straco Corporation saw a marginal 0.4% y-o-y dip in 4Q18 earnings to $6.04 million from $6.07 million a year ago, as lower revenue for the quarter was offset by lower expenses compared to the corresponding period. For the FY18 ended Dec 2018, the group reported 12.4% lower earnings of $41.8 million compared to $47.7 million for FY17. Revenue for the latest quarter fell ...
SilkAir's Singapore-Broome direct flight service to return in June 2019
SINGAPORE (Jan 22): SilkAir, the regional wing of Singapore Airlines (SIA), is introducing Phase 2 of its direct flight trial between Singapore and Broome, Western Australia, this June 2019.   Following the successful conclusion of the Phase 1 trial in May-June 2018, the second phase involves four return flights on June 13, 17, 20 and 24 this year. They will run at the same times each ...
Online travel agent Zuji loses licenses in Singapore, Hong Kong
SINGAPORE (Jan 17): Zuji, an Asian online travel booking site, is no longer operational after failing to renew licenses in Hong Kong and Singapore and an air ticketing system terminated its services. Zuji’s business permits expired Jan. 9 and the firm hasn’t applied for fresh ones, Hong Kong’s Travel Agents Registry said in an email, while Singapore Tourism Board said that Zuji’s ...
Singapore 5th most visited global destination for second straight year: Mastercard
SINGAPORE (Sept 25): Singapore has kept its spot as the fifth most visited destination for two years in a row, according to the Mastercard Global Destination Cities Index 2018. Boasting a 6.1% growth with 13.91 million international visitors in 2017, Singapore has more than doubled its growth forecast of 2.6%. The top five origin market for Singapore are China (18.8%), Indonesia (15%), ...
Alipay and STB conclude first 'cashless trip' for Chinese visitors to Singapore
SINGAPORE (Sept 13): Alipay, the mobile payment and lifestyle platform operated by China’s Ant Financial Services Group, has concluded its first “cashless trip” made by Chinese visitors to Singapore. The trip was held in August this year together with the Singapore Tourism Board (STB), and saw six Alipay users visit Singapore based on itineraries planned by STB for three out of its seven ...
Hatten to develop $67 mil water themepark at Harbour [email protected]
SINGAPORE (Aug 7): Hatten Land intends to jointly build a RM200 million ($67 million) water themepark in Melaka, Malaysia, in collaboration with resort operator Samsung C&T Corp and Polin Waterparks, the designer and installer of water slides. Named Splash World @ Harbour City, the four-storey water park spanning 500,000 sf is expected to complete construction by end 2019 and be open to ...
Duty Free International reports 40% lower 1Q earnings of $3.1 mil on revenue slips
SINGAPORE (July 11): Duty Free International (DFI) posted earnings of RM9.05 million ($3.06 million) for the 1Q ended May, down 39.9% from RM15.05 million a year ago on lower revenue, donations and the absence of a gain arising from changes in fair value of option. Revenue for the quarter fell 28.9% to RM117.4 million from RM161.1 million in 1Q18, largely due to a shortage of supply of certain ...