PH Resorts, which is developing the Emerald Bay resort on Cebu, has signed an accord with a junket operator aimed at tapping into Japan’s VIP market.
Royal International Joint Stock Company, owner of the Royal Ha Long Bay Casino reported nearly a VND27 billion loss in the first quarter of 2021, marking the sixth consecutive quarter of loss for the company.
Despite Covid-mandated travel restrictions, the number of new hotels will continue to expand in 2021 with 820 hotel projects and 190,332 rooms due to go live in the Asia Pacific region.
Genting Bhd Chairman Lim Kok Thay says he expects global economic conditions to continue to recover and said the group will assess any business opportunities that arise that could complement existing operations or provide new growth.
Hotel occupancy in Goa has dropped some 25 to 30 percent due to new travel restrictions imposed in neighbouring states to curb a spike in Covid cases.
Tourism appears to be firmly on the rebound in Macau, with a total of 189,840 visitor arrivals over the past week, which is a record high since the pandemic struck over a year ago.
South Korea, which attracted significant interest when it first opened for foreign investors, is now seen as holding limited appeal unless the government agrees to relax its stance on local gaming.
South Korean IRs and casinos have received some positive news as companies try to recover from setbacks that were mainly the function of the Covid pandemic.
China tourism watchers are becoming tentatively optimistic that outbound travel will resume in the next few months and increase further in the second half of the year.
Special loans to local tourism-related businesses have been spiralling upward since the outbreak of the Covid pandemic. These loans are provided through the Jeju Tourism Promotion Fund, which itself is facing a cash crunch as its funding comes largely from the island’s struggling casinos.