Hotels & Tourism
Hotel RevPAR drops 62% YoY in Q1
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.
Genting's EBITDA plunged 55% to $146.89m in Q1
Its flagship property Resorts World Sentosa took a severe hit from the pandemic.
Tourism receipts grew 12.8% to $7.1b in Q4 2019
The growth was led by the 18% YoY increase to $2b in other components.
Tourism receipts grew 12.8% to $7.1b in Q4 2019
The growth was led by the 18% YoY increase to $2b in other components.
Hotels bank on contactless tech to entice guests during coronavirus pandemic
Firms are installing self check-in kiosks, chatbots, direct booking applications, and digital in-room dining services.
STB unveils $20m marketing programme for tourism firms
It aims to support marketing costs and award funding boosters to companies.
How hotels and employers should prepare for disasters
There are multiple security layers that firms should lay out for their employees’ safety.
Hotel S-REITs may opt to privatise: analyst
Their yields are largely supported by fixed rents for master leases.
Will co-living survive in Singapore's fast-changing rental market?
Despite the hype on 'flexible living', landlords still prefer the traditional model.
Singapore hotels' average occupancy down to 51%
Hotel rooms remain half-filled resulting in a 40% decline in revenue.
OUE to rebrand Mandarin Orchard Singapore as Hilton's flagship
They plan to spend $90m in renovating the hotel.
GL closes hotels temporarily amidst lockdowns
Its subsidiary’s hotels saw a reduction in bookings and rise in cancellations.
EHT suspends stapled securities trading as $496.11m in loans defaulted
Its master lessees failed to pay rent.
Genting Singapore cuts pay for directors and managers
Non-executive directors will see a 15% reduction in fees.
Pandemic won't topple the hotel sector in the long term: analyst
Occupancy rate climbed to 87.1% in 2019 compared to the 10-year average.
Daily Briefing: Hotels roll out staycation packages; Automation startup Novocall raises $700,000 seed funding
And Credence Partners has launched its first venture capital fund.
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