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Articles tagged “singapore”

News Blog

Singapore Sovereign Wealth Fund to Buy Majority Stake in Resort Group Valued at $2.2 Billion

The Government of Singapore Investment Corporation has acquired a majority stake in Sani/Ikos Group, a luxury beach resort group in the Mediterranean, for an undisclosed amount. The transaction that is expected to close in the fourth quarter of 2022, subject to regulatory approval, values the Mediterranean-based luxury resort operator at $2.27 billion. U.S.-based Oaktree Capital…

Peden Doma Bhutia | 2 years ago

News Blog

MGM in Talks With Genting for Potential Purchase of Resorts World Sentosa

Casino-resort Genting Singapore is in talks with bidders for the purchase of Resorts World Sentosa and US-based MGM Resorts International is one of the top contenders, according to Bloomberg reports. While MGM’s recent talks with Malaysia’s Lim family, that owns 53 percent stake in Genting Singapore, failed to yield an agreement, the Singapore-based casino operator…

Peden Doma Bhutia | 2 years ago

News Blog

Singapore’s Ascott to Acquire Serviced Apartment Company Oakwood

Singapore-based Ascott is buying global serviced apartment provider Oakwood Worldwide from Mapletree Investments, increasing its global portfolio by 81 properties and about 15,000 units. Terms of the deal were not disclosed. The acquisition is set to be completed in the third quarter of 2022, after which 8,500 Oakwood operational units are expected to immediately contribute…

Peden Doma Bhutia | 2 years ago

Business Travel

Venture Capital Legend Tim Draper Looks to Franchise Hostels

Startup Draper House, which is part of the billionaire investor's funding network, is the perfect embodiment of entrepreneurial tourism, a fast-growing sub sector that blends startup culture and venture capital with hospitality. Co-branding opportunities could help it expand rapidly.

Matthew Parsons | 2 years ago

Venture Capital Legend Tim Draper Looks to Franchise Hostels

Tourism

U.S. Visitors Driving Southeast Asia’s Recovery So Far

Yes, travel is back but with China and Japan largely out of the Southeast Asian inbound equation, the recovery will be bumpy and lagging in many ways.

Peden Doma Bhutia | 2 years ago

U.S. Visitors Driving Southeast Asia’s Recovery So Far

Hotels

China’s Strict Covid Policies Likely to Deter Future Hotel Investment

Even if more Chinese cities follow the recent lead of Beijing and Shanghai in easing Covid restrictions, major hotel companies will still tread cautiously regarding future development in the country. Especially since widespread lockdowns could occur again if Covid cases surge.

Rashaad Jorden | 2 years ago

China’s Strict Covid Policies Likely to Deter Future Hotel Investment

News Blog

Singapore Sees Business Travel on the Rise Once Again

In April, Singapore reopened its borders to vaccinated travelers. Since then, corporate travel agency CWT said that Singapore has seen the highest peaks of business travel since early 2020, according to The Straits Times. "Mr. Akshay Kapoor, head of sales for Asia-Pacific at CWT, said outbound bookings from Singapore are up fivefold compared with the…

Sean O'Neill | 2 years ago

Tourism

Will Cautious Thailand Lose Out in Southeast Asia’s Tourism Recovery Race?

It's good to be cautious, but Thailand may pay the price of being cautious to a fault. Having already lost out on the first-mover advantage, will the delay in reopening deal a major blow to the already-fragile economy of Southeast Asia's biggest tourism hub?

Peden Doma Bhutia | 2 years ago

Will Cautious Thailand Lose Out in Southeast Asia’s Tourism Recovery Race?

Hotels

Wyndham Reveals More About New Extended-Stay Brand

As the economy extended-stay segment tends to perform well during periods of both economic boom and bust, Wyndham's new brand should put the company in a prime position to continue posting profitable quarters.

Rashaad Jorden | 2 years ago

Wyndham Reveals More About New Extended-Stay Brand

Tourism

Daily Podcast: Oyo’s Bumpy Road to an IPO

Good morning from Skift. It's Friday, March 18, in New York City. Here's what you need to know about the business of travel today.

Rashaad Jorden | 2 years ago

Daily Podcast: Oyo’s Bumpy Road to an IPO